Your MUST-READ Morning Stock Futures Cheat Sheet: Breakout
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The Precise Take – Breakout
Big Picture Analysis: Yesterday, the low range trading continued, but overnight, Asia led the risk markets higher, which have not looked back. In the 135 minute chart below, we can see an upper trend channel target has been reached. Given the consolidation since the beginning of the year, this move should have legs, and the high volume area established around the 1275 node should provide support on any pullback. A decisive move below or close below 1270 would warn of a bull trap.
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