After more than a 10% rally since rebounding from old cloud chart support levels the index is now close to the bottom end of the weekly cloud chart resistance zone of 2644!
Critical week ahead to see if the index will breakout past this level, or reverse lower if resistance holds.
Remain long for now, but if cloud chart resistance holds, then will be reversing position and going short.
Key risk is that since price action is below the cloud chart level it is overall bearish on both the daily and weekly cloud chart.
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