Bias: While 141.15-25 supports I feel we can see gains extend to the 142.44-50 area at least
Losses were seen as expected and stalled in between supports but within the broad 139.26-60 area. The rally has been firm and there may be chance of seeing 142.44-50 before a pullback. From this area I would expect losses to retrace back to the 121.15-25 area. While this supports we can see the uptrend resume though note the strong chance of a sideways consolidation. Above 142.50 would risk follow-through to 143.35 & 143.84.
19th April: If 139.60-80 can possibly hold (and max 138.90) then we can see the upside develop once again. Back above 142.03 and 142.50 would provide more confidence of continued gains that should reach back to the 144.85-02 highs.
The 142.44-50 resistance looks as if it cold be tested but then cause a correction lower. Thus look for bearish trade set ups in this area. From there I suspect the pullback will decline back below 142.17 and 141.62 to reach the 141.15-25 area. Take care as I favor this holding. Thus only below 141.00-10 would extend losses back through 140.95 and 140.63 to the 140.00-20 support area.
20th March: I suspect we have seen the full extent of losses - only below 140.00 and 139.40 implies losses to 138.00 and below.
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