Price is expected to trade between 10,400-10,600 (1). 10,600 is strong resistance and trading over that might take us to tease the 11,000 level. Should we cross 11,000, 11,350 is a strong short opportunity. At current time we recommend BUY with a target at 10,600+.We would recommend buying anything possible above 9780 and cutting positions if we fall below there.
Our word of caution lays in the Stochastics and which are currently oversold. They indicate a disturbing repeating trend in which the tests the lows twice, and the second decline is a large plunge in price. Are we expected to have a second selloff? To be determined.
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