US markets are now trading above their monthly 50% levels.
And Friday’s trading is going to be confirmed by the Weekly channel highs in both markets.
Above and the Weekly trend continues upwards and a higher close on Friday (Full Weekly report tomorrow)
Friday’s trading is simply going to be defined by the Weekly channel highs:- above and the Weekly trend continues, as it move towards premium contract expiry. (higher close Friday)Below:- and Friday will probably close around the 5-day 50% level, before the next weekly trend begins next week. (previous report)
Previous report suggested that a Weekly close could be around the 5-day 50% level if there is a push down on Friday:- When we look at those 5-day 50% levels, we can see that they match the Monthly 50% levels.
Therefore any push down on Friday and this is the reference for support on friday, and next week.
A guide on the trend should be Yesterday's 5-day high breakout....
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