Starting to see some consolidation on the 13550 area. On the 5-min time frame price has moved below the 50 MA and on the 15min price is holding the 50MA. I like to sometimes look at these to see how fast price is moving and if there could be a potential reversal when price fails to move fast enough - signaling weakness in buyers. 4 hour time frame we have a nasty spinning top candle end of day yesterday, also another sign that price could be reversing with indecision and loss of bullish strength. We did come very close to touching 13600 overnight but rejected that and came back down. Also seeing some divergence across a few indicators - another signal that price could be losing weakness. Nonetheless, being prepared for two scenarios.
Short
I am short bias as of now and am looking for a break of 13500 and a move back to the top of the channel where I'll be following the trade with a stop loss. We had a very strong move yesterday, up a few hundred points, and investors could very well be taking profits at the areas we're currently at.
Long
I'd like to go long if we see buyers stepping in with strong volume on the break for 13600, which has been a resistance level for a bit.