Morning report

The Fibonacci expansion level around 13.65 areas is the level which is able to slowdown the upside action which we explained and expected in our previous reports. Also, the price has entered an overbought area as shown on stochastic & William%R and therefore we expect some kind of corrective actions before resuming the short and medium term bullish scenario. If that occurs, it will confirm our scenario suggesting that the laddering formation is still in favor to the upside as far as 12.95 remains unbroken today targeting the initial resistance at 13.88.

The trading range for today is among the key support at 12.95 and key resistance now at 14.30.

The general trend is to the upside as far as 12.00 remains intact with targets at 16.50.

Join the Discussion
  • Evolution Of Apple’s iPod

    Even though the company’s focus is now on its flagship iPhones, Steve Jobs’ genius in coming up with the iconic music player is unparalleled.
  • Banks To Relocate Over Brexit?

    Before the June referendum, a survey by the British Bankers’ Association showed that a large majority of banks wanted to remain within the European Union.
  • Vote Early (Not Often)

    More Americans are opting to forgo the Election Day trip to the voting booth and take care of business early.