Current Sentiment: Neutral
Support 1: 13.20 Resistance 1: 26.27
Support 2: 16.00
Venture’s has finally seen some lights at the end of the tunnel after finding support at 61.8% of the Fibonacci. Although the current technical trend is now in a range environment, we believe that market will continue to rally as the current technical factors all are pointing to a favourable bullish conditions.
*Should the market rally thereafter, traders should be cautious as the rally may be short lived. The reason is because the market is presented in a way that it will have a deeper correction into the demand zone at 78.6% retracement level. However, should the market breaks the 17.00 immediate supply zone, then the market will rallied toward 19.00 straight up.