August 7

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Once again we have single prints near the 6349 BZ level which is where we had Monday’s “spike”. We need to keep monitoring for acceptance above this area.

  • It’s also important to note that once again we saw resistance at the 6378 BZ level which is keeping us below last week’s “2-Day Balance Area”.

Bullish Scenarios:

  • Longs above 6364 or above 6378 targeting 6407 followed by 6436. With this move I’m looking for the “2-Day Balance breakout failure”.

Bearish Scenarios:

  • Shorts below 6349 targeting 6291.



Next

August 6