Weekly Report 09-13 April
The week started with a bearish gap; while trading above the 61.8% Fibonacci level at 101.20 but below the 20 exponential moving average and the 50% Fibonacci level at 103.00. Stochastic tends to be negative; while there is a good possibility that price fills that gap, thus we prefer to be neutral this week.
The trading range for this week is expected among the major support at 98.65 and the major resistance at 105.90.
The short-terd trend is to the upside with steady daily closing above 99.60, targeting 116.50.
**New York Candlesticks**
|Recommendation||Based on the charts and explanations above we recommend staying aside awaiting more confirmation.|