Thought I’d send out a quick wrap up here to incorporate Fridays close along with some big picture thoughts. Today was what I describe as a “ping pong” day - price bounced between support at 4605 and resistance at 4650 multiple times before closing above 4650. Worth noting that the Friday afternoon rally was actually triggered by a fake break-down setup and a classic (I’ll get into it below - its one I trade daily), but even more important is why price bounced twice at 4605. It’s a key long-term trendline, and its weak. More info + chart below
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