After the strong reaction at the MP last week, a slow grind up towards the MR1 and WR1 is underway, which sit around the round number resistance of 26k. The weekly bullish reversal at 25800 also provides resistance so some pullbacks to daily pivots are expected. A strong reaction off resistance tomorrow or Wednesday could maintain the bearish divergence on the Stochs, and in keeping with the choppy nature of this year, I would now expect a pullback to begin this week unless the monthly and then yearly pivots are converted to support.
Overall- no set up as of yet, looking for entry at WR1 and MR1 with a bearish candle and ideally Stoch divergence on a lower timeframe to confirm.
Overall- no set up as of yet, looking for entry at WR1 and MR1 with a bearish candle and ideally Stoch divergence on a lower timeframe to confirm.
