Intra-day Bias: Neutral/Bullish
Support: 9939, 9930, 9894, 9845, 9792
Resistance: 9980, 10021, 10046, 10087, 10193
After a fairly wide ranging day yesterday we are still trapped inside a 200 point range, where we have been for the last 7-8 days. Despite receiving slightly disappointing news from Mario Draghi, the market has not shown too many signs of its intent to reversal from current levels.
We rallied from open today, after a small gap higher and we are now currently stalling around 9975. If you pull a fib from the wicks of the recent stems, instead of the closes then you will see price touching the 61.8 @ 9989, respecting it perfectly and turning around, interesting to watch how it responds at the 50% line.
I am waiting for the market to turn bearish longer term and am struggling to get a foothold trading at the moment.
In the video my view was bullish up to the daily R1, but I am already beginning to think the opposite. Not having a clear trading idea to execute is where bad decisions come in and today, I have been the victim of some bad decisions.