Mid-day report


The negative divergence of RSI 14 is still in progress for the time being, below 38.2% Fibonacci level signaling that the harmonic pattern is on the way to build a potential reversal zone. Therefore, we keep our overview to the downside for the rest of the day unless a clear breakout occurs above 136.10 zones.

The trading range for today is among key support at 129.80 and key resistance now at 136.80.

The general trend is to the downside as far as 141.44 remains intact with targets at 100.00 followed by 88.97 levels.

RecommendationOur morning expectation is still valid