[Soultrader]

Interesting market action for the past 4 sessions. We had overlapping value and a pure markte consolidation between 11800 (11808) to approx 11720.

We are now trading at the lower extreme of the bracket. Could offer possible long opportunities for today. However, I would be cautious. By taking a look at the daily charts we see a pullback in play. The markets may have not yet completed this pullback.

Price can drift lower towards the 11700. Any break below this level will hint out warnings for longs.

If the markets can hold this 11720 area today, we should see a market rotation back towards the upper extreme of the bracket this week.

Also take a look at the daily chart attached. We have higher volume on the rallies and lower volume on the pullback. This indicates a continuation of the trend.