The bias remains to the upside for the short term with the price
trading above the Daily Pivot Range (blue dots), therefore this level
is key support.
With this bias to the upside our ‘A’ up value line is our first entry
point for the day.
The 14 Day Pivot Moving Average (red) is turning up, and crossing the
30 Day Pivot Moving Average (yellow) and this is...
This chart shows the importance of the Opening Range, Daily Pivot Range and the Daily Pivot Moving Averages, particularly in unison. Setting up nicely for a good move up if the key resistance level 720 can be broken.
According to our rules the market is in the neutral zone where the price is trading within the Opening Range bands and the Pivot Range, both of which are overlapping. When this occurs after an A trade, in this case a failed A down trade, the bias then shifts to neutral.