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Learning from last Week: (click here for the previous post)
Index slips lower below the 1.62 Fibonacci resistance of a major retrace as seen above.
The Index falls below the 2.62 extension of the last minor High-Low and is now at the 1.62 extension of the last major High-Low.
Looking forward into this Week:
Bears hope to close the week below the current resistance (1.62).
Bulls seek Higher Highs and a close above this major level (1.62).
Index Support and Resistance possibilities are marked as above.
Bulls seeking another major Break out - run down below major resistances.
Bears having taken advantage of the earlier (2.62) resistance, seek to keep the pressure on and change the trend.