Tuesday's opening above Monday's high almost ensured a trending up day on Tuesday albeit a narrow range up-day. It looks like the market needs to pullback down before it can go up again, as long as it does not violates key support level.
Key level to watch for on Wednesday is 2200.
- Above 2200 implies the market is still in a bullish mode, targeting 2250 then 2275.
- Below 2200 implies the market needs to pullback down, targeting 2160-2170. A clear break below 2160 implies a re-test of Monday's low 2135 area.
