Bias: While 149.75-85 caps I look for additional losses to 148.25
As expected we have seen losses which reached the 149.63-91 support but this morning has seen extension to 149.22. The earliest I can see some sort of decent correction is from 148.25. Even then this will be for a correction only but could rise back towards the 149.75-85 area. However, that is far as I would expect. Thus, any bullish stance is going to require a break above 149.85-00 and only if seen would I look for a rally back towards 150.00 and 150.23-44 with the 151.18 high the next resistance.
18th September: The structure is bearish and likely to remain so. There could be one opportunity around 148.25 for a rally back to 149.75-85. Only back above 150 is going to allow a retest at 151.18. Above there sees 152.16.
I remain bearish and see any recovery from this morning's 149.22 low stalling at 149.75-85. From here look for losses back to 149.22 - possibly a small correction and then through to 148.25. I think this will hold for a correction but also note the 147.67-81 support. If I am wrong and we just keep seeing losses then below 147.48-67 would target 146.58.
18th September: With the 151.18 resistance holding I see the main direction as lower, initially to 148.25 and later to 147.67-81… However, this may well be the most we see for now..
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