This there a right should forming?High-value day on the informant pivots. I am now slightly more bullish on the daily. Along with intraday.
Strong resistance on 4475. We have a pivot and technical resistance sitting there. I think breaking this would really give some conviction behind a bullish sentiment.
Also monthly resistance at 4667ish. Give these three resistances are so close I think it is important that we breach them tomorrow.
Lastly, a little note, I feel like we could be in the early stages of a right should formation.
Pema
Some Notes On MESPossible PEMA confluence on the daily. Expect either price to crossover or a test with bearish confirmation. Weekly pivot trend analysis says we should be taking shorts more often this week. Today's daily pivots tell me we are slightly bearish but I will look for price to trade in a tighter range throughout this session which may lead to a breakout session on Friday.
Also, note the thick red dotted line is a major POC. If the price is above I am overall bullish and if the price is below I am overall bearish. Taking intraday trades in the direction of this line plus daily sentiment will help.
Please comment if you agree or disagree. Let's chat!