Trade Alert
Certainly, overall, the equity market is not the place, where your money are very safe right now. This idea could be good for a trader, who is willing to catch a short-term trade.
We have mixed suggestions on our oscillators, so we will ignore those for now. We will monitor the potential brake out areas, which are the closest support and resistance zones to the current price.
On the downside, a drop below the 6675 hurdle may open the door towards the 6600 zone, a break of which, could drive the index further down, to test the December low.
But, if the 6675 level continues to hold, the price could reverse back up, as more bulls could try to step in and take advantage of the lower price. This is when we will monitor the 6752 zone, a break of which could be that gateway towards higher levels.
Please see the chart for details.
Don't forget your SL.
Certainly, overall, the equity market is not the place, where your money are very safe right now. This idea could be good for a trader, who is willing to catch a short-term trade.
We have mixed suggestions on our oscillators, so we will ignore those for now. We will monitor the potential brake out areas, which are the closest support and resistance zones to the current price.
On the downside, a drop below the 6675 hurdle may open the door towards the 6600 zone, a break of which, could drive the index further down, to test the December low.
But, if the 6675 level continues to hold, the price could reverse back up, as more bulls could try to step in and take advantage of the lower price. This is when we will monitor the 6752 zone, a break of which could be that gateway towards higher levels.
Please see the chart for details.
Don't forget your SL.