By Claus Andersen
Price action is working out as usual. Price bounced from major support and stopped at major resistance, while getting some bounces at minor support and resistance. I adjusted the minor support and resistance on this chart. The move to the 12.500 major resistance was in a spike context. That is usually followed by a channel. I have drawn a potential channel on the chart.
It seems like momentum is picking up. Also the bond markets has gained some volatility lately. Let’s hope this continues since it is nice for day traders like us.
Have a nice trading week.