From what we observed on last Friday’s trading, there’re alot of uncertainties how would the market move. It tried to recover from the big drop in the morning, but market was not interested to push it up.

However due to the lower oil price now (Approx USD130 per barrel), a technical rebound is possible (we’re almost near to the low of 1083) . My strategy will be to observe during the first hour of trading. Need to know what’s the direction before we take a position.

Daily Pivot Points

Support 1: 1092 Resistance 1: 1100

Support 2: 1083 Resistance 2: 1110

Support 3:         Resistance 3: 1122

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