Tomorrow we can expect figures close to 150,000 for both sales and shipments.
March continued to consolidate today, though was unable to press through yesterday's highs above 54.70. This is beginning to indicate a lack of explosive buying, reflecting the fact that the market has reached a point of agreement for both sides.
A consecutive holding of the 54.00 resistance level today indicates that it is now support and could preclude the death of the old 51- 54 trading range.
Trend following indicators show both the 9 day and the 50 day SMA to be trending higher now, with the 9 day crossing over the 50 day last week. The 9 day average will now trail prices as support on any pullback.
marketing@alchempro.com
