Pre-market Chart

Good morning traders!

Prices are trending higher this morning. However, there is strong resistance at the 3982 level. Prices tried to break through it a couple of times now and every time failed. If we see the resistance holding the bigger uptrend that I drew won’t get confirmed and we can switch over to a range play. The bias is neutral to up. We need more price action for a clearer picture. Draw the shorter-term channels to better understand where prices are heading.

Good trades to you!