Recap Traded above Y-0 early in the week points potential consolidation for the week. Failed to hold above Y-0 and slided towards Y-1. Failed to tag Y-1 and retested week high quickly. Failed to hold above Feb close led to another sell off which ended at the gap zone. Closed the week at midpoint.
Outlook As long as Feb close acting as resistance, there should be more weaknesses, meaning a retest of Y-1 and downside expansion towards B-2 is not out of the question.
Once Feb close is taken out, however, Feb high will be the target.
Lawrence's Comment
Recap
Daily uptrend was broken but you cannot beat b.s. spreading from Europe again. The resistance at B-0 was destroyed right off the beginning of the week. After ...
Lawrence's Comment
Recap
FBO against previous support confirmed early in the week, opening the door to Y+1 and above. Cable held Y-0 and move higher to Y+1 as expected. Closed the week ...
Dow 30 Mar 07 to Mar 11 Outlook
Lawrence’s Comment
Traded above Y-0 early in the week points potential consolidation for the week. Failed to hold above Y-0 and slided towards Y-1. Failed to tag Y-1 and retested week high quickly. Failed to hold above Feb close led to another sell off which ended at the gap zone. Closed the week at midpoint.
Outlook
As long as Feb close acting as resistance, there should be more weaknesses, meaning a retest of Y-1 and downside expansion towards B-2 is not out of the question.
Once Feb close is taken out, however, Feb high will be the target.
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