Review of 22 July 2013 Outlook
I suggested trading the breakout from the channel would be a possible strategy but recommended holding off until the price left the range indicated above since a trend worth trading on was unlikely to develop. The price, trading volumes and momentum indicators for the 22 July were within forecast, no meaningful trends developed within the highlighted range.
Forecast for 23 July 2013 Outlook
Advice remains the same for today short on a downward momentum change near the top of this range, go long for an upward momentum change near the bottom. Also watch out for a breakthrough at the top of the range which would indicate a strong upward trend, do not expecting a breakthrough through the floor of the area indicated. There is no background trend so momentum indicators will not have to be adjusted for entry signals