Hello traders looks like we are opening lower this morning futures are down about 6 points or so. Look at the chart below and you will see that we are coming into a sort of double support area around the 1296- 1300 area. If we hold this level I think this is the time to start positioning to the long side . However if we fail to hold this area then we could sell harder. Like they say, " With a failed move, comes a fast move," and that's what we could have right here. We can even come down towards the 1292 area. Either way I am looking for a reversal down here most likely going into the weekend maybe. If I do a trade though, I will let you all know and at the same time I do not plan on holding over the weekend, as there is just too much risk in the market when we are correcting. They will have you thinking that its going to hold and then you will get cream faced. So watch those levels on the chart. Peace
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