Hey all. Well yesterday RTH opened below two of our key zones but as stated in the plan 33-35 could cap the selling and it did just that. Took us straight back into our bull bear zone from yesterday. Congrats to anyone who got the long yesterday based on the plan.
So going into today....
Now the other scenario which may pan out is the bearish scenario. Off the open we could test yesterdays value down at 42 - 44 and this is our first support zone. Buyers are likely to defend this for a push to todays B/B zone. After this we have 32 - 34 which was provided great support yesterday however we would need a good setup for a long here given the bearish context down there. We have a support line at 2030 which would be a good downside target. Then finally 19-21 which is a long for me in most scenarios.
Happy Trading and please leave me a comment if you are following the blog this week. Thanks and have a great day.