R3: 100.80

R2: 100.50

R1: 100.20/30

Current Price: 99.57

S1: 99.10/20

S2: 98.50/60

S3: 98.00

Rate continues to consolidate and range-trade within established S/R; rate could be coiling for a sharp move in either direction but the bias is downward in my view. Look for stops above the market to be thicker at 100.50 area and below the market at 98.50 area; I think the bears are willing to cut and run on any strength and the early bulls will bail on any weakness, both sides are nervous I think. Close over the 100.00 area argues for upside break; close under 99.10 for downside.

Analysis by: written by Jason Alan Jankovsky


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