Morning Report

The price achieved a decisive breakout below the support of the bullish trend that assisted it to stabilize below SMA 50. This action will postpone the bullish direction, discussed in previous reports, where we defined 94.00 areas to be the technical target. On the contrary, momentum indicators show positive signs that may send it to retest the previous broken support at 90.60 to come back to the bullish direction. Thereby, we recommend observing today's trading, while watching 89.00 levels carefully.

The trading range for today is among the key support around87.70 and the key resistance around 91.80.

The short term trend is expected towards the upside as long as trading is above 84.00 with targets at 99.00.

Previous Report

Weekly Report

Support89.0088.7588.1587.7087.25
Resistance90.2590.6091.3591.8092.80
RecommendationBased on the charts and explanations above our opinion is, staying aside until a clearer sign appears to pinpoint the upcoming big move.