Technical Outlook and Chart Setups:
Yesterdays' spike takes our stop at 35.25/30 levels. It seems that bulls are preparing to rally further and break through fresh highs. As depicted above, prices are swinging between a channel resistance (around 35.30/20) and support (around 33.50/60). Sub 34.00 level should now provide interim support for any intraday dips. It is favourable to buy intraday dips as close to 34.00 level now and on the other side, sell near 35.10/20 levels. A break of either channel should be traded accordingly.
Trade Recommendations:
Flat for now. Buy bullish signals close to 34.00 and sell bearish signals close to 35.10/20. Flip trades on break of the channels.
Good Luck!