28 Mar Thursday Daily Outlook

Price is back again at 38725 level resistance and it is holding. Price is of course out of the non trending channel mentioned yesterday, but indicators still indicate that it is still within a non trend zone. For last several days price is doing nothing other than swinging up and down within the same level. Swing trading strategies can be applied for profit in these situations but trend trading strategies are not applicable, at least to open a new position.

As long as resistances 39000/39300 levels are not broken and held, price doesn't seem to have a consistent move in upside direction. On downside, we have supports at 38550 and 37750 as shown in the image. Happy and Safe Trading :)