| Resistance: | 95.37 | 95.69 | 95.88 | 96.15 |
| Support: | 94.83 | 94.65 | 94.32-45 | 94.01 |
Please read the attached PDF file to ensure that you receive the full analysis...
Bias: Look for a pullback to somewhere between 94.45-65 before higher again
Daily Bullish
Gains seen as expected to the 95.35-37 area and this should trigger a pullback into the 94.32-65 area - and I tend to prefer the lower support. From this area look for gains to push back above 95.37 and onto 96.15 at least and probably around the 96.30-51 area. However, look for a cap to develop around there. Also note the 96.97 corrective peak. Only breach here would imply stronger gains.
Medium Term Bullish
28th July: I feel more and more that the 96.15-30 area is going to provide the top here. Thus only breach would extend into the higher resistance area at 96.51-85.
Daily Bearish
We have just seen a second attempt at the 95.30-37 area fail and I suspect this should trigger losses back to the 94.83 low seen so far and probably to 94.65 at least and I feel more likely the 94.32-45 area. Look for a bullish reversal pattern here. Thus for a stronger bearish stance we shall need break of 94.30 and then yesterday's 94.01 low and if seen this would trigger follow-through below 93.41-75 and to the 93.08 low at least. Next support is in the 92.27-67 area.
Medium Term Bearish
29th July: The lack of follow-through below 94.03 is a concern for the bearish structure and thus wait for breach and only if seen will it imply a return close to the 91.74 low but this should cause a pullback before it can make new lows.
For a full description of how to use the analysis please see the Analysis page of my website. The prior day's set ups for potential trading levels highlighted in the report are now available on the Daily Forecast page of my web site
