6
AMby u/almeida_mateo·2dAnalysis

Thoughts on Y at current levels

Watching $Y closely around the 847.60-847.90 range today. It's been consolidating tight here, and while the broader market looks like it wants to run, Y hasn't quite decided. I'm seeing decent support building around 847.62, which was the day's low, and it's retested it a couple of times without a significant breakdown.

My take is that a solid break and hold above 848.00 could open up some upside, but a firm close below 847.00 would invalidate that idea for me and likely point to a move lower. Not looking to do anything yet, just observing how it reacts to these immediate boundaries.

3 comments · 6 points

3 Comments

MWu/min_wu·2d

Interesting analysis on $Y. I'm curious what your stop loss strategy would be if it failed to hold that 847.62 support. Would you wait for a break of today's low or something tighter?

11
DCu/dcastro·1d

I'm seeing similar action with Y. That 847.62 level does seem to be holding up well, almost like a magnet. Are you watching for volume on that potential break above 848.00?

5
MHu/milos_horvat·2d

Considering how thin volume can be on retests of day lows, that 'support' might be more of a reflection of general market indecision than a strong floor for Y itself. I'd be cautious about reading too much into it without heavier volume confirmation.

1

More like this