Morning Report

The technical contradiction has became very clear as price settled above the exponential moving averages and above 107.00, in addition to MACD's positivity, on the other hand; trading below 107.60 while stochastic approaching overbought areas and the main descending resistance(colored in pink)all are negative signs. Accordingly, we prefer staying aside today for more confirmations.

The trading range for the day is among the major support at 103.90 and the major resistance at 110.15.

The short-term trend is to the upside with steady daily closing above 99.60 targeting 116.50.

**New York Candlesticks**

Previous Report

Weekly Report

Support107.00106.45105.90105.25104.75
Resistance107.60108.00108.85109.40109.80
RecommendationBased on the charts and explanations above we recommend staying aside awaiting more confirmation.