The Point of Control is 1167.50; however, there is a large support volume area between 1160 and 1163. The 1615 ET close is 1163.25, and the average price for the day is 1163.50.
We got the typical 1400 ET reversal going into the energy market close, which occured on the test of the overngith low. Near 1530 ET when the market sometimes starts to move, the market gave us a bullish $TICK divergence on a 62% correction of the 1400 ET up wave. The close above 1163 is encouraging for the bulls.
Charles
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