Important levels for 03/11/2022.
Another low volume day, the sellers were in control but absence of large volumes the price could not go anywhere.
For tomorrow, we have to look at the index with a complete neutral view. The fact being we are trading side the weekly VA and unless we break it on the downside we cannot short the index. Once we break the VAL (weekly) @ 41250, we immediately run into a buyer reference zone 41085-41089. So from the looks of it, shorting does not give us a good RR. We can look for shorts once we sustain below 41034 for targets of the old buyer reference @ 40666-40733.
Longs we can take above 41570 for targets of 41750-41850.
Another low volume day, the sellers were in control but absence of large volumes the price could not go anywhere.
For tomorrow, we have to look at the index with a complete neutral view. The fact being we are trading side the weekly VA and unless we break it on the downside we cannot short the index. Once we break the VAL (weekly) @ 41250, we immediately run into a buyer reference zone 41085-41089. So from the looks of it, shorting does not give us a good RR. We can look for shorts once we sustain below 41034 for targets of the old buyer reference @ 40666-40733.
Longs we can take above 41570 for targets of 41750-41850.
Comment:
Typo Error the buying reference zone is 41085-41189.