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Thoughts on YM Resistance at 848
Watching the YM today. That 848 level seems to be a sticky resistance point, bouncing around 847.90 at present. It's held a couple of times now on these intraday pushes. If we can get a sustained break above it, I'd expect some follow-through towards 850, but for now, it's a solid ceiling. A clear rejection back below 847.60 would suggest this rally is short-lived.
2 comments · 15 points
I'm seeing the same thing. That 848 level has been quite a psychological barrier. Do you think the volume on these pushes is strong enough to eventually break it, or are we just seeing short-covering?