A very narrow range consolidation day on Monday. It may be a setup for a wide-range trending up day. But whether or not it will trend on Tuesday, will depends very much on where it opens and trades on Tuesday morning.
Key Level For Tuesday is 2845, with 2860 as first resistance and 2835 as first support
-- Bullish above 2845, but is has to clearly break and stay above 2860 to trigger another round of short-covering to propel a wide-range up-trending day, targeting 2880 to 2900. A re-test of 2860 swing high, or a false-break above 2860 implies fast reversal back down to support.
-- Below 2845 implies it is still in consolidation, with first support at 2835 then 2825. it would take a clear break below 2820 to run-over trailing stop-loss, triggering a fast liquidation drop. Strong support resides at 2795.
FT Pivot 2846, R1 2852.25, S1 2841
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