JPM - SUPPORT / RESISTANCE - BUY OR SELL 10/20 AM?

Updated

JPM has formed solid support and resistance within the same levels as experienced in late August through mid-September. As the chart states, if the price breaks below the 99.70 support line then it is likely the price will retrace to former, lower support. If the price stays above the line then its possible that it will retest 102.60.

Or nothing could happen...

Note

So it seems we are staying within the support resistance range (99.71 - 102.60) after denying the breakthrough to down below. As of right now the price is setting higher highs and higher lows - an indication of an upward trend as it moves to test that resistance level.

I would be wary of holding on to this at the moment because of all the potential for stimulus updates and the general frothiness in the market.

As a side note: I need to work on getting the hang of time scale and formatting so these are clearer. I'm mostly posting these to test my own analysis and instill accountability. Definitely not advice given my lack of experience in trading. That said, I do hope this is helpful to you all in at least providing some material to review basic concepts.

scaled

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