Another consolidation day on Tuesday, a continuation of the decline that started on Monday. If consolidation is complete, price should start to rally up on Wednesday, targeting a break above Monday's swing high before pulling back down.
Key level for Wednesday is 2780.
- Above 2780 is bullish, implies the next up-leg could commences at anytime, targeting a break above Monday's swing high before pulling back. A sustained break above reversal zone implies a trending up day.
- Below 2780 implies it is still in a consolidation / pullback mode, targeting a drop down to 2770, 2760.
FT Pivot Levels
R1 = 2792
FTP = 2781.50
S1 = 2772.50
