Summery:
Primary Trend: Bearish (see last red dot)
Secondary Trend: Bullish (see last zigzag)
Resistance: 114,050 (FIBO 61.8)
Support: 111,710 (FIBO 100)
Comment: during the last 12 bars (three months) seems that we have a flat market.
Suggestion:
Considering that primary trend is bearish (last red dot) for thoose who have short positions I suggest to keep it till the formation of a new down peak (new red dot). Otherwise stay neutral till price breaks down FIBO 100 on cloing bar or enters the oversold zone on closing bar to start adding short positions.
Good Luck!
