Ok we had a rally this morning to 8.6c and now retraced back to the 8.2-8.3 support area... as expected ... So we should finish the day as an up day. The question is by how much...
The fact that sellers have been unable to drive the price down to yesterdays lows suggests they are exhausted in the short term... IMO The higher the close today the better and the more likely the rally will continue in the days ahead... The minimum I would expect is a close at 8.3 which is above yesterdays high of 8.2 (and a breakout of the 5 day mini downtrend) but better still would be a close higher than this again...
Report(s) incl quarterly will be due tomorrow... this may draw a few more bulls out of hiding into the daylight... so interesting day tomorrow ..the seeds of a reversal have already been sown ... just need patience to let it snowball
All is IMHO DYOR to confirm
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