Yesterdays bearish scenario played out. We had good early rotation was our 1st support zone back into value. As said yesterday we would have needed a perfect setup down around the 34 zone to take a long give the bearish context at that point and as we saw that level failed on 2nd test. Price didnt quite reach our next zone at 19-21 which would have been an automatic long. Great job if you managed to get short into the 34 area and take a few points long off of the 1st test of 44.
So on to today....
Below out bull bear zone we have first support at 21-19. This is a key area for buyers to defend as if they dont then we could see a value transition to 1998 over the coming days. Intraday however i dont expect us to liquidate to 1998 and we could see buyers step in at any of the 10-12 or 06-04 zones.