The daily chart shows a top structure, focus on hourly rebound. Good morning brothers, the daily chart has closed two consecutive bearish candles. Yesterday's ADP data was only a short-term boost. Support levels for short-term longs are easily trapped. The 4-hour and hourly levels currently form an M top, with the neckline at 91,400. The estimated low is around 88,500. The neckline of the pattern is at 3,180, with a maximum estimated retracement low at 3,050.

No signs of high-level consolidation followed by a breakout; instead, a large bearish candle retracement. Currently, the M pattern is also consolidating with reduced volume at high levels. Yesterday, after opening the panic, there was no follow-through trend; it moved quite independently. Today, focus on unemployment data and tomorrow's non-farm payroll. The plan is to rebound first and then short, the script is quite predictable.

Between 91,500-91,000 and above 90,500, watch for 93,000-94,000. Defensive support below 90,000.
Long around 3,150, add on dips around 3,120, target 3,180-3,220, with strong momentum aiming for 3,250. Support below 3,100.
For shorting:
Short around 92,200, add on dips around 92,800, target 90,500, strong support at 88,500.
Short between 3,220-3,250, target 3,080.