Short-Term Forecast For Monday, May 11

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Short-term Outlook

  • Bullish Scenario: A close well above current levels would reconfirm the uptrend from March and forecast a move up to congestion resistance in the 3,000 area.
  • Bearish Scenario: A reversal and close well below the middle of the Bollinger bands at 2,851 would predict a move down to the bottom of the Bollinger bands at 2,747.

Both scenarios are equally likely.

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