Bias remains uncertain as news embargo can be used to switch directions. It would be very interesting to see what happens this week. The news calendar is as follows.
Monday: No event
Tuesday : CPI Report
Wednesday: PPI Report
Thursday: Jobless Claims
Friday: Industrial Production

However, there has been a SIBI formed on the Daily timeframe and that is where I will be looking for short term trading opportunities. Remember to not force any trades this week and be at your best behavior.

Daily Bearish Breaker (Blue Lines)
Upper Threshold: 3991.50
Lower Threshold: 3956.50

Daily SIBI (Pink Rectangle)
Upper Threshold: 3971.50
Mean Threshold : 3956.50 (overlap with lower threshold of Daily bearish breaker)
Lower Threshold: 3941.75

Targets for the week on the sellside: (golden lines)
Target 1: 3887.75
Target 2: 3862.75


Beyond Technical AnalysisTrend Analysis

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