Price declined to touch levels around 104.75, this levels is critical for the bullish outlook we have been following this week, as a breach below could invalidate the bullish technical pattern , on the other hand , holding above the level shall keep the bullish picture intact. Due to this sensitivity we will remain neutral for the rest of the day.
The trading range for the day is among the major support at 102.80 and the major resistance at 108.85.
The short-terd trend is to the upside with steady daily closing above 99.60, targeting 116.50.
Support: 104.75, 104.40, 103.90, 103.35, 102.80
Resistance: 105.25, 105.90, 106.45, 107.00, 107.60
Recommendation Based on the charts and explanations above we recommend staying aside awaiting more confirmation
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