Once Again Important Support Levels Are Tested

Today’s trading in the Stock Indices was very interesting. Obviously, at the open traders felt the employment numbers were bullish. However, they soon turned bearish and all of the gains of the last two days were retraced. Important to this is they closed, once again, at multiple timeframe support levels. Should they break support next week, it could open the possibility of testing the June 17 lows. Alternatively, if today’s high is traded through, it opens up the possibility of testing intermediate resistance.

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