SHORT
Updated
Currently, we have not elected any Weekly Bearish Reversals from this new high. The immediate Weekly Bearish Reversal to watch lies at 1204992 but focus more on 1193037. A closing beneath this level will signal a temporary high is in place. Additionally, a closing beneath 1265970 would also imply a technical based pause in the uptrend for now.
Note
Since the high of 1284166 established on Tuesday May 16th, we have declined into a low at 1248995 created on Thursday May 18th overall for 2 days electing in the process one Daily Bearish Reversal. We need to focus on support at 1247786. If that level is breached on a closing basis from here, then that high should stand for a while. Electing the Weekly and Monthly Bearish Reversals from that same event will confirm a retest of the major long-term underlying support.Note
Currently, we have not elected any Daily Bearish Reversals from this new high. The immediate Daily Bearish Reversal to watch lies at 1266248 but focus more on 1259332. A closing beneath this level will signal a temporary high is in place. Additionally, a closing beneath 1273478 would also imply a technical based pause in the uptrend for now. Technical projected resistance for tomorrow stands at 1294840. Only exceeding that level would imply a runaway breakout to the upside.
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