The past few days has seen this market stall just below the 50 and 100 DMA and now there's a 3 point downward sloping resistance line as well. Today's action saw strong selling early into the previous resistance zone and then a snap back rally. Old resistance became support. If we get a break above the recent 12982 high tomorrow, then will we have a bullish ABCD pattern with shallow retracement and 3:1 right handed skewing. I've pulled my original target 1 offers at 13025 and moved them to 13160. If this pattern forms in the next 3 days the first upside target will be around 13350. I would look to get out of another contract at that level.
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