1st level of support for this week could be the Kijun Sen around the $3.12 area.
I'm expecting a bounce off the Kijun Sen first before we have any chance of moving higher.
2nd level of support could be the $2.89 mark & if all else fails the next area of support should the Kumo around $2.45 area.
Resistance is now the $3.35 area & considering how much support that area was for us, it will be tough trying to break through that area again. Next resistance level could be around the $3.72 - $3.78 area
The Kijun Sen is still flat indicating we are still in a consolidation period long term (weeks/months) but the Tenkan Sen is pointing down which means there is some downside momentum in the SP over the short term (days/weeks).
It's been a tough couple of weeks for us but the tough times don't last.
Chart, page-5867
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