Important Levels for 03-08-2021
The price did not find acceptance inside Friday's range and it did well to finish where it started. With the price still stuck inside the range, will wait for tomorrow to see which direction we can see a move coming.
34950-34980 will act as a resistance zone and we can look to take longs only after 35050 is breached with volumes for targets of 35180,35280 and 35400. The SL for this can be placed at 34950.
Will look to short below 34580 with a SL of 35650 for targets of 34500 and 34400.
From the look of it, should be wise to trade in small quantities unless a proper trend has developed.
The price did not find acceptance inside Friday's range and it did well to finish where it started. With the price still stuck inside the range, will wait for tomorrow to see which direction we can see a move coming.
34950-34980 will act as a resistance zone and we can look to take longs only after 35050 is breached with volumes for targets of 35180,35280 and 35400. The SL for this can be placed at 34950.
Will look to short below 34580 with a SL of 35650 for targets of 34500 and 34400.
From the look of it, should be wise to trade in small quantities unless a proper trend has developed.
Trade closed: target reached:
Trade: 35050-35280