1. 50MA hourly at approximately 1640
2. Channel support dating back to 1536 low. This is approximately 1640.
3. Breached resistance and now pullback to support at 1640.
The CCI 8 recorded a low of -200+ which is the lowest in the past month and half. This goes to show that a 0.50% pullback relatively speaking was significant.
Thursday was the high of the cycle as noted earlier. Friday into Monday it seems the cycle is pointing lower. I am however on the lookout for 1640 as a likely support area for the coming ramp up into 1670-1680 next week.
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