A pullback short-covering up day on Friday. For Monday, depending on where it trades in relation to its key level, Monday is either going to be another up day, or a down day. Note that the current declining momentum on the daily chart is quite strong, hence a one pullback day followed by a resumption of the downtrend that started on Wednesday is very possible.
Key level For Monday is 2735.
-- Above 2735 implies more short-covering rally with next resistance at 2755-2760.
-- Below 2735 implies it is going down to test Thursday swing low, 2700, which is a very strong support. However, a sustained break below 2700 could trigger another round of liquidation decline, next support is 2650.
Link: http://www.sirchartsalot.com/article.php?id=173
