Important Levels for 12/08/2022.
Clearly the stronger of the two indices.
We opened gap up and clearly sustained above it, although there was no follow through and a big move, we did not come close near DL.
38830 is the reference level to look for before initiating shorts. Once we trade and sustain below 38830, we can place shorts with SL at 38900 for targets of 38770,38700 and 38600.
If we trade above 38980, we can look for targets of 39160 and 39250, with SLs placed at 38900.
Clearly the stronger of the two indices.
We opened gap up and clearly sustained above it, although there was no follow through and a big move, we did not come close near DL.
38830 is the reference level to look for before initiating shorts. Once we trade and sustain below 38830, we can place shorts with SL at 38900 for targets of 38770,38700 and 38600.
If we trade above 38980, we can look for targets of 39160 and 39250, with SLs placed at 38900.