"Home. home on the range, where the Bulls and Bears do Play----"
20 Day, 2 Hour - Oct. 9 - The important technical chart at this juncture is the 20 Day which shows the range in which price action has been confined of late. The market is poised to either bounce down off of resistance at the 107 level or break above and set in motion a move to even higher levels in near future. Indications continue to appear that support a pull back or correction but the bulls remain persistent in supporting the market.
2 Day, 15 min. - Oct. 9 - Sideways action for two days that represents consolidation after a previous gap up. This pause could easily result in a vigorous breakout to the upside. At the same time a correction down would be understandable given recent strength and options expiration later this week.
3 Month, Daily - Oct. 9 - Bullish Channel Trend continues to be the dominant technical picture. The RSI and CCI are both on the rise and support upward momentum.
1 Year, Weekly - Oct. 9 - Longer term trend is up. The Channel has room within itself for bulls and bears to frolic but the general direction remains up.
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