Short term uptrend in a sideways market. Tested resistance level of around 79.60 and retraced to fib level of 0.236. Potential short opportunity once price closes over 9 EMA and MACD indicates sell. Stochastic has already signalled sell in overbought. If price breaks through 0.236 fib level, expect a target of 0.382 level which has acted as previous support.
Tested support of around 3275 points. RSI at oversold level. Possible retracement from current downtrend up to fib level of 0.236 with the target level being around 3350 points. More confirmation required but represents a potential buying opportunity in the short term.
