Once in the 8100-8400 range it seems further accumulation can take place but not before then
- the daily down bar on the 24th is on low to average volume and average spread which means it is a signal of a lack of support and strength
- the subsequent low vol up bar on low spread confirms the lack of strength
- the next major support area is 8100-8400
Counter trend trading is risky; the more conservative trade is to wait for accumulation and take a trade with the trend
However there is a scalp opportunity to the short side
- the daily down bar on the 24th is on low to average volume and average spread which means it is a signal of a lack of support and strength
- the subsequent low vol up bar on low spread confirms the lack of strength
- the next major support area is 8100-8400
Counter trend trading is risky; the more conservative trade is to wait for accumulation and take a trade with the trend
However there is a scalp opportunity to the short side