Last week we had small technical correction from overbought conditions. It last most of week with final move at Friday when price get back slighty above previous week highs.
Previous week highs get setup in slightly messy way as price push towards 11280 at Friday after US close (18th Jan) and open 50 points lower at Monday (21 Jan) and continue sell off until found support at 11k mark and retest top ending week at 11265
Last week chart: https://www.tecet.net/?p=4001
Update : https://www.tecet.net/?p=4018
Right now buyers hovering near significant down trend. Getting thru will require solid push perhaps following after some consolidation near by trend line.
Important test for buyers and this rally all together.
Targets: 11610 & 11730 plus 11915 in extension
Sellers looking for cap January rally and prevent breaking downtrend line. Few test following decline make sense in this levels. Good place to reload on positions and push price back to bottom.
Well played not only can trigger deeper pull back but also push price under January lows.
Targets: 10970 & 10730 plus 10600/460 in extension