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FGBL & Friends by MARS

ANOTHER DOWN DAY

10 Juin 2014 , Rédigé par MARS

Market opened with a small upward gap, making its HoD, filled the gap and then gently decreased to reach LoD just before the end of the day session. Market ended at LoD.

At 145.34, POC is some 30 ticks lower than Monday. There is a selling tail from 145.45 to 145.56.
Monday's POC is virgin. Sellers are in control of the market.
 

Result is a red loop belt.

Result is a red loop belt.

As market is in a 144.60 - 146.00 range, Ichimoku analysis might not be relevant.

As market is in a 144.60 - 146.00 range, Ichimoku analysis might not be relevant.

The horizontal support seems to attract prices.

The horizontal support seems to attract prices.

Would the dowanrd move continue tomorrow, below LoD (144.95) there is 144.86 (mid PP-S1 and former HVN) then 144.48 (S1) and finally LoW (144.01).
On the resistance side we have 145.44 (high value end) then two HoDs (145.56 and 76) and finally HoY (145.99).

Buyers seems to have vanished and market is looking for some support.
I do not see anything serious before S1.

Almost no statistics tomorrow, so I am expecting the gentle downard move to continue, S1 being the target.

Good Night.
 

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