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Since they closed above our 44000 long term target, that then turned into the swing point, it has now traded up to the 57707 major Gann square. You can use this as the swing point, with a solid close above it look for the next major Gann square at 62470 and then our long term target of 65000. On a break from 57707 look for the major Gann square at 52944 and then  51300, this is 23.6% back to the 1/22/21 low at 28860. If this is all they can break from 57707, it would keep the market extremely positive and new all-time highs should follow. When and if this market does have a good setback you should first look to 45300, this is 23.6% back to the 2018 low. On a more severe break look for 37350, this is 38.2% back to the same low and is our long term swing point. This is also the level based on the ONE44 Fibonacci rules and guidelines that must hold to keep the long term trend intact.

The Second Chart below has natural support and resistance levels that are based on W.D.Gann's "Law of Vibration"

They are marked by the yellow horizontal lines

Each level can be used as support and then resistance once taken out and the reverse when starting as resistance. These levels will be good until the end of each contract.

Our goal is to not only give you actionable information, but to help you understand why we think this is happening based on pure price analysis with Fibonacci retracements and Gann squares.

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This is our latest video in an ongoing series of how to use the Fibonacci retracements. Even if you do not trade the market covered the rules and guidelines are the same, as we believe the Fibonacci retracements are the underlying structure of all markets.

https://www.youtube.com/watch?v=gSISbkEtQj0&t=143s&ab_channel=ONE44Analytics

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