Us100 index is approaching a peculiar horizontal support. Depending on the reaction of the price to that structure, I see 2 potential scenarios.
Bearish If the price breaks and closes below 11480 - 11550 horizontal support on a daily, I will expect a bearish continuation at least to 11200 level.
Bullish The price may also respect the underlined green structure. If the price breaks a falling parallel channel to the upside on a 4H, I will expect a pullback to 11650.
Wait for a breakout, that will indicate you the future direction of the market.
What do you expect?
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