Price is back at the channel floor and is showing
some early signs of respect. This level roughly coincides
with the SMA200, which may bring additional support.
A close below Monthly S1 at 1,1020 will shift focus to Yearly S2
at 1,0820 and above that, Monthly S2 at 1,0865. A close
above the channel floor will give an opportunity to
play the range, as price is also somewhat oversold as it
trades below Weekly S3 at current level.
some early signs of respect. This level roughly coincides
with the SMA200, which may bring additional support.
A close below Monthly S1 at 1,1020 will shift focus to Yearly S2
at 1,0820 and above that, Monthly S2 at 1,0865. A close
above the channel floor will give an opportunity to
play the range, as price is also somewhat oversold as it
trades below Weekly S3 at current level.