R3: 101.80

R2: 101.50

R1: 101.00/10

Current Price: 100.82

S1: 100.40/50

S2: 100.20

S3: 99.80

Rate continues to gain a foothold for a relief rally but light volumes hamper the potential and are a bit of a warning. Look for volumes to pick up in the coming days as traders continue to debate a recovery; stops likely to be rolled closer to the market. Late shorts will fuel advance short-term so look for offers at technical levels then buy the dips. Rally to the 102.50 area likely to attract a round of early long-liquidation but a correction under the 100.00 area should be short-lived.

Analysis by: written by Jason Alan Jankovsky


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