The three keys components that provided support were the Ichimoku Cloud base on the Daily Chart, which is comprised of the 50% retracement over the last 52 data periods. While price did break below the cloud technically, we did not see the lagging line (bright green) break into the cloud, and we did not see a strong move lower once price pierced the cloud, but rather price moved sideways before beginning this week’s retracement. An eventual break below last week’s low of 99.23, followed by ...
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