For Tuesday, 4178.50 can contain session weakness, above which 4239.75 - 4252.25 remains a 3 - 5 day target able to contain buying through Q3, once tested the market prone to bearish rotation into June / July.
On the other hand, a weekly settlement above 4252.25 indicates a good annual low, 4500.00 then expected within 3 - 5 weeks, the 4808.25, January 22 high by the end of the year.
Downside Tuesday, breaking/opening below 4178.50 allows 4153.75 intraday, while closing today below 4178.50 will keep 4055.75 - 4063.25 in reach within the week, able to contain selling through May and above which 4252.25 long-term resistance remains a 2 - 3 week objective.
On the other hand, a weekly settlement above 4252.25 indicates a good annual low, 4500.00 then expected within 3 - 5 weeks, the 4808.25, January 22 high by the end of the year.
Downside Tuesday, breaking/opening below 4178.50 allows 4153.75 intraday, while closing today below 4178.50 will keep 4055.75 - 4063.25 in reach within the week, able to contain selling through May and above which 4252.25 long-term resistance remains a 2 - 3 week objective.
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