Final Update Monday 3rd February

Bit of a boring morning I'm sorry to say.
Not a lot of price action, no real direction & no trades taken, so that's me done for the day.

I post a final chart so as to give you a brief synopsis of what may happen....

Right now the ema's are neither in a buy or sell mode. The green is trapped between the red and blue.
If the green breaks below the blue there's a good chance that the red will follow giving a downside formation.
If the green ema breaks above the red then that will show signs of upward momentum.

Until either of these situations play out it's a patience game.

There seems to be many obstacles below worthy of a sell consideration at this stage and with the price now below the PP this - together with the red/blue ema's overhead could become a 3 tiered level of resistance, so nothing to offer confidence upstairs either.

Final thoughts:-

A fall below 9.765 will add downside momentum. Look for the cross of red below blue.

A rise above 9.790 will probably see a positive cross of green over red and add some upside momentum, but for me, no trades today and bank still intact!

Until tomorrow. Happy hunting!