During the week, the formation of A-A1 rotation offered rotational
play opportunity.
Demand has built up, with weekly bar showing loss of selling
momentum. But it takes time for the vessel to turn, so wait for
support to manifest before going long
Possible scenarios:
1) Rotational play between 31750 - 32600 (approx 850pts range)
2) Continuation long = long on retracement, to test 33590
3) Short if 31747 was broken through and becomes resistance
Volume Analysis:
Weekly: Higher vol, narrower spread down bar close off low
= reduced downward momentum
Daily: Ave vol down bar close toward off (non-trend changing)
Price reaction levels
Short on Test and Reject | Long on Test and Accept
34689 32789 31747
31097 30513
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Have a profitable week ahead.
