Is the market due for a breakout? Or should it be still in range mode?
Thats the crucial question to ask, in order to predict the direction of today.
60min chart is bearish, with MA20 cross MA50 down. While 15min MACD chart is bullish, with cup & handle, and MACD rising above 0.
Its a confusing time. But we believe a rebound is possible, before a big downfall. We go for breakout trade setup.
Long @ 2620 / short @ 2580.