The overall direction is south and we should see a test of channel support 105.50. The weekly chart is overbought, and the daily chart is trying to battle the minor support line moving towards 108.50.
My feel is, we should remain in SELL strategy between 109.00-109.75 and add above 110.45 again. The profit objective is 105.78 short-term, and medium-term we may see 102.90 again. OIL is the key and since we may see OIL much lower, this cross would be excellent one to use.
My feel is, we should remain in SELL strategy between 109.00-109.75 and add above 110.45 again. The profit objective is 105.78 short-term, and medium-term we may see 102.90 again. OIL is the key and since we may see OIL much lower, this cross would be excellent one to use.