Hey traders!

Prices were opening higher this morning. The overnight price action formed some spike and channel that went into the opening. Prices found strong resistance around the 4066 level and could not go higher from there. We saw a rejection and prices trended lower within the bigger blue downtrend. That trend broke and prices retested the lows. From there we sideways action, that is why I drew the bigger range. Price found strong support at yesterday’s closing price (red line) and is bouncing off there to the middle of the range again.

Hope you had a good trading day today.