The Index is currently looking to bounce at the bottom of the price channel in the one hour price chart. The index price came down after reaching the top of the price channel in yesterday's trading session and finished the session at 72.45 just below 72.53 resistance.
Today's session started with the index price moved up towards the top of the price channel but failed again to breakthrough and finally crumbled below 72.34 support and headed straight down to the bottom of the price channel
The current price action is pointing towards a bounce at the immediate support at 71.83 If successful; The long target is at around 72.64. Failure could see prices fall below the price channel and possibly down to 71.54
Today's session started with the index price moved up towards the top of the price channel but failed again to breakthrough and finally crumbled below 72.34 support and headed straight down to the bottom of the price channel
The current price action is pointing towards a bounce at the immediate support at 71.83 If successful; The long target is at around 72.64. Failure could see prices fall below the price channel and possibly down to 71.54
