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A further rebound effort as we had expected, but to push above resistance at 2048.25, which we had looked to cap to shift the near term outlook to a range theme.
Range Parameters: We see the range defined by 2067.25 and 1984.25.
Range Breakout Challenge
- Upside: Above 2067.25 aims higher for 2088.75 and 2100.0.
- Downside: Below 1984.25 sees risk lower for 1980.75 and 1961.5.
- We see an upside bias towards 2067.25, which we would look to cap for a roll back lower to 2036.0, maybe 2030.5.
- Only above 2067.25 sets a more bullish tone for 2082.75
- But below 2036.0 opens risk down through 2030.5 for 2020.25.
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