7/4: Trade Within the 3313–3346 Range

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Good morning, everyone!

Yesterday’s intraday trades delivered solid profits. Since the U.S. market will be closed today, news-driven volatility is expected to be limited. Therefore, today’s trading focus will primarily revolve around technical setups.

Current structure:

Key support: 3321–3316

Immediate resistance: 3337–3342, followed by 3360

If support holds and resistance breaks, a potential inverse head-and-shoulders pattern may form on the 4H chart, with the next target near 3380

If support breaks, focus shifts to the 3303–3289 support zone

Given the likelihood of range-bound price action today, the suggested intraday range is 3313–3346, with a preference for selling near resistance and buying near support.

If an upside breakout occurs, consider using the MA20 on the 30-minute chart as a guide for pullback entries.

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