240 1050am
Pull-back off significant resistances - support found from the 34ma. Consolidation at weekly s/r's expected, now watching to see how it develops Note Fib levels are still being respected.
DAILY
Consolidation occurring at weekly s/r's. Movement remains within green channel at this time. Positive pressure continues.
WEEKLY
Significant s/r's highlighted in red. Watching for a break through these - lift to the next technicals, pink UBB and upper blue channel possible. Could be a volatile move. What we are watching the current consolidation in the lower time frames for.
IF the s/r's hold and the market pulls back further, potential to move back to the pink 34ma exists.
Positive pressure continues.
