Wednesday, September 5, 2012

Trade Guideline For Thursday

A narrow-range inside day on Wednesday with price action staying inside Tuesday's trading range, the opening and the closing price were at about the same price level.

For Thursday price needs to breakout and stay out of Wednesday's trading range between 2760 support and 2780 resistance (2760-2780) to trigger a trending move in the direction of the break.

Key Level For Thursday is 2770.
-- Bullish bias above 2770, with first resistance at 2780, then 2800.
-- Bearish below 2770 with first support at 2760, then 2743.