Important Levels for 10/11/2022.
Yesterday it was a completely sideways market with the index being stuck in a 25-50 point range for the majority of the time.
Today, if we open flat and trade below the buyer reference zone 41786-41841 we can take shorts for targets of 41591-41643 followed by 41500.
For longs, we can wait and see if the buyer reference zone is being defended with new buyers coming in and if that happens we can go long for targets of yesterday's seller reference zone of 42038-42098.
If it opens flat and trades between the buyer and seller reference zone, we shall wait for either range to break and then take trades.
Yesterday it was a completely sideways market with the index being stuck in a 25-50 point range for the majority of the time.
Today, if we open flat and trade below the buyer reference zone 41786-41841 we can take shorts for targets of 41591-41643 followed by 41500.
For longs, we can wait and see if the buyer reference zone is being defended with new buyers coming in and if that happens we can go long for targets of yesterday's seller reference zone of 42038-42098.
If it opens flat and trades between the buyer and seller reference zone, we shall wait for either range to break and then take trades.