Technically we reached an RSI today of 69% which is still in oversold territory for the first time since the uptrend started almost 4 weeks ago. The close today suggests that we could test the upside again, but after a week of over 300 pts in gains across the board, it seems that we may be due for a correction soon.
We will see how the market wants to respond and if it will attempt to test the 55.60 level before FND on Monday, June 25th, or pull back to support levels at 54.50 and 53.98.
marketing@alchempro.com
