Down channel trade was good. Market recovered on Friday to close up on high volume off its high (H4). Some support has returned. 4492 looked like a strong support at the moment. If there is indeed acceptance, we may have a temporary long opportunity. However do note market is still within down channel, so take profit on your longs whenever possible
Weekly: Very high volume closing off low = strength Daily: 4492 looks like a strong support. High volume down bar closing off low = strength H4: High volume up bar closing of high, supply still present.
Entries will be based on price reaction to the levels Short = Test and Reject | Long = Test and Accept
4764 4740 4717 4651 4606 4564 4492 4411
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