The overnight market found support at the 1092.50 level, and after the release of the CPI number, it is again over the 1100 level and over yesterday's Point of Control near 1099.50. So the market is back above key support levels.
Charles
Friday, February 19, 2010
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Was was your plan of action after you saw this?
ReplyDeleteNo value added to this chart?
One of the things that I look at is whether the market is above support or below resistance, such as yesterday's Point of Control. In this case, the market was above the Point of Control, so I anticipate the market retesting that area before advancing to a new equilibrium level.
ReplyDeleteIt's the chart that I first look at in the morning to determine overnight sentiment. That's the value to me.
Charles