Daily Bars

Prepared by Jamie Saettele, CMT
Near term strength should present an opportunity to return to the short side. Congestion late last week at 12360-12400 (also 6/28 low) is now resistance. Focus remains on 12150. “12150 was a pivot in June 2010 and is joined by the 161.8% extension of 12747-12406 / 12692 at 12142. The 61.8% extension of waves i-iii comes in at 12068.”
LEVELS: 12100 12150 12250 12360 12400 12440