Things have been doing great so far, sticking to the plan.
This morning the index gapped the first resistance (23,6% Fibonacci level) and is now heading to the second target at 3981.
Final target appears to be 4011, but the signal will be given by the touch of the MACD on its resistance (red line on the figure). An up break of the resistance will validate a bullish trend on 2 hours time frame. On the contrary, a reverse on this level may lead to a new low on the index.
On a daily basis, note the resistance (red trendline) of the RSI(21) that will probably lead to another bearish counter-attack.
4011 key level on the short term. Be aware that volumes are below their MA20, so it really looks more as a rebound than a trend reversal.
Good trades
Pj.
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