The call to be cautious to the long side early Friday was justified with RSI's overextended and at a key level. We did however have another reaction at the 67400-600 supports which i took for a decent run which went to test the 68050 level once again.
Today Asia is opening the week red, and our index is still "resetting" from a 4hr overbought RSI. Failure to hold 67500-600 will open the gate to 67300 or lower, potentially having a double top measured move targeting major support at 67020. Alternatively, bulls need to push back over 67780 to make any possible progress forward.
Things to note: You can never be certain which way the market will go, but you can have a plan on how to respond when market reacts to an identified level. The rest is risk management which is your key edge and where many fail.
Supports: 67020/67300/67600
Resistance: 67780/68050/68329
Day Pivot: 67790
all levels are based off the futures market.