It’s confirmed.  We are just drifting without any clear direction.

Ever since we bounced off the low of 1684, we have consolidated in the range of 1890 to 1950.  It was only last Friday that the market has decided to move away from that range.  However, the volume was quite weak.

There doesn’t seem to be anything major that will move the index higher so we should be looking at how the US will be performing.

Based on what the MACD is showing us, should prices move higher, we should expect that it is nothing more than a rally.  So if you have any positions, it may be a good time to take your profits.

Recommendation: Take profits
Support: 1950
Resistance: 2340