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Weekly – In the November 2022 uptrend. Trade pressures are down. Volumes are bearish.
Daily – Flat. At the 3.84 downside target. Trade pressures are down but rising. Volumes remain bearish.
The next target down is the 200DMA at 3.75. Oversold is expected at 3.79.
A close above 3.90 would signal higher. Overbought levels will be near 4.03.
[3/19/23: Long at 3.92. SL at 3.87] [3/20/23: Stopped out in the overnight markets with a loss.]
Weekly – In the December 2022 uptrend. Trade pressures are up into the neutral zone.. Volumes are remain bullish.
Daily – Flat, the run continues higher. Trade pressures are up. Volumes are bullish..
The next target up is 2001and is above the overbought levels at 1963.
A close below 1954 would signal lower.
Oversold target is 1843.
Weekly – In the new February 2023 downtrend. Trade pressures are rising to the neutral zone. Volumes are now bullish.
Daily – Long. A new long entry has been triggered at 21.75. Trade pressures are up. Volumes are now bullish.
The next target up is 23.54. Overbought level 23.30.
A close below 22.40 would signal lower. The expected oversold level is 19.70.
At resistance now, wait for a pull back and the bullish reversal on the trade pressures to re-enter.