Overnight

The range is currently 2156.00-64.50 on light volume, versus settlement at 2158.00 yesterday.

No major eco news due today

Plan

The sell-off yesterday remains within a longer term bullish structure.

The double distribution yesterday is the first hurdle for buyers to push through, which is represented at the 2162.75-64.50 resistance zone. We could see strong resistance at 66.50-68 where a lot of volume traded but above there it could accelerate through the highs again.

Failure to break that initial resistance at 62.75-64.50 could see a re-test of the overnight low and bull/bear zone. The high volume node at 2146 would be the next natural target below there, but we may see buyers step in at the 47.75-49.00 zone. Below 46 then the 36.75-38.25 gap would be next target, but again buyers could step in at the 41.25-43.25 zone.