Price: 139.82

Bias: The 140.71-99 area may be tested first but then produce losses below 139 for 137.88 at least

Daily Bullish:
Break of 141.96 saw losses extend and these became quite aggressive to finally reach the 139.00 level. Today may well see an early bounce but I can't see these reaching above the 140.71-99 area. Thus only look for a stronger recovery if the 141.00 level breaks. If seen then look for price to push above 141.56 and to the 142.00-10 pivot area. Take care here. Only above maintains the upward momentum for 142.75, 143.00 and stronger resistance at the 143.57 corrective high.

MT Bullish:
30th March: I feel we should see the correction reach the 137.88 support at a minimum and possibly 136.90 but while these support the upside can begin to be seen. A move back above 141.00 and then 142.00 would assist with gains back to 143.57 and the 145.07high.

Daily Bearish:
Breach of key support has allowed the downside to decline quite sharply and reach 139.00. While the 140.71-99 area caps in any earlier correction I feel there is a good risk that we'll see the decline continue below 139.00 and to 138.77 minimum. Take a little care here but I actually feel that we'll be seeing a deeper decline through to 137.66 and possibly 136.90. Stronger support is at the 134.87 low...

MT Bearish:
30th March: This decline appears too deep to generate a recovery to new highs but I'm not so sure we'll see losses extend too much. I see support at 137.88 and 136.90 being wave projections. Only below the 134.87 major corrective low would cause much stronger losses at this stage.

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