The Globex buyers managed to break the resistance but couldn’t sustain the high prices which attracted the sellers before the day session. That started to unfold as a false breakout pattern and led to a liquidation move back to previous low. Considering a long weekend ahead it was inline with the risk off idea. The month ended at the monthly point of control. If the buyers continue to defend today’s low they have a chance to turn around otherwise it could lead to a retest of 7600, 7550 and lower. The market continues to be neutral and confined within a large range offering short term trading opportunities for both sides.
Have a great weekend.
8/30/2019
Have a great weekend.
8/30/2019
