Update on supports and resistances.

Resistance3 : 117.5
Resistance2 : 114.75
Resistance1 : 112
Last Price : 109.9
Pivot Point: 112
Support1 : 104
Support2 : 100
Support3 : 98.25

Pivot: 112

Our preference: Short positions below 112 with targets @ 104 & 100 in extension.

Alternative scenario: Above 112 look for further upside with 114.75 & 117.5 as targets.

Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.

117.5
114.75
112
109.9 (last)
104
100
98.25



*USD/CAD Index: the ISE Exchange measures the strength and weakness of the US DOLLAR versus the CANADIAN DOLLAR. For details go to www.ise.com