Midday Report

The 261.8% correction is considered one of the main targets and at the same time is very strong resistance. A rare pattern is formulating around this level at 149.00 which is a bearish diamond pattern as seen on the secondary image. The downside expectations for today remain valid as far as the four-hour closings remain below 149.00.

The trading range for today is among key support at 143.45 and key resistance at 150.15.

The general trend is to the downside as far as 167.40 remains intact with target at116.00.

RecommendationOur morning expectations remain valid