Resistance
$1324 (5-DMA)
$1330 (10-DMA)
$1334 (50-DMA)
Support
$1313 (yesterday’s low)
$1305 (100-DMA)
$1300 (zero figure)
Despite rebound from $1313 yesterday, the subsequent rejection at 5-DMA yesterday followed by a failure to hold above 5-DMA seen today suggests the larger down trend from the high of $1352 levels remains intact and the daily 100-MA level of $1305 could be put to test.
On the upside, a rise above $1334 (50-DMA) risks sending the prices higher to $1352 levels, but reckon the hurlde would hold on caution ahead of next week’s FOMC rate decision.
$1324 (5-DMA)
$1330 (10-DMA)
$1334 (50-DMA)
Support
$1313 (yesterday’s low)
$1305 (100-DMA)
$1300 (zero figure)
Despite rebound from $1313 yesterday, the subsequent rejection at 5-DMA yesterday followed by a failure to hold above 5-DMA seen today suggests the larger down trend from the high of $1352 levels remains intact and the daily 100-MA level of $1305 could be put to test.
On the upside, a rise above $1334 (50-DMA) risks sending the prices higher to $1352 levels, but reckon the hurlde would hold on caution ahead of next week’s FOMC rate decision.
