*Accuracy rating update: 100% or 9/9 predictions correct*
Day’s Theme: Likely two peaks with a valley between.
Behavior Around the High: A decline through multiple support levels.
Behavior Around the Low: A lowest low for the month thus far. There’s a lot of price change around the low.
Exclusive Trade Opportunities for Subscribers:
I’m advised to trade around a move higher that reaches for distant resistance.
Overview
On the 15th, there’s a rally into key resistance in the pre-market. We’ll then have a decline with consecutively lower spikes up on the way down into the open. At the open, there’s some sideways rotation and a sharp drop that takes us to a support level that was a recent opportunity. We’ll rally out of that support level to a peak or crest around 10:00. From there, there’s a lot of price change to the downside. We’ll have sideways rotation along that low. There’s a sideways S-formation within a channel midday. We’ll then have a notable selloff from a peak into another trough or low between 1:00 and 2:00. There’s some erratic behavior back and forth through the same price level between 2:00 and 3:00. In the midst of that erratic behavior, we’ll meet a crest that was a recent opportunity. In the last hour, there’s an important resistance level highlighted. We’ll establish support at a higher level around the close.
Sneak Preview
We’ll open lower the following day.
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