Technical Outlook and Chart Setup:
Last two sessions remained sideways, but upside breakouts are expected at anytime. We recommend to keep afloat the long positions taken earlier for the measured extension level of 98.50 and above. 4th waves are normally of tricky and choppy nature. Prepare exit strategy between 98.00 and 98.50. Those, wanting to take fresh long positions, should be buying intraday dips though the reward ratio wouldn’t be optimum. Support is just below 96.00 now while upside resistance comes in above 98.00. Hold on to long positions for now.
Trading Recommendations:
No change, stick to long positions, exit between 98.00 and 98.50.
Good Luck!
