These technical outlooks are NOT trade ideas, they are simply technical analysis to give traders a DIRECTIONAL BIAS on the day.
Good evening traders!
The spike high at 123.86 on December 30th was matched with quick selling pressure and is keeping the previous swing high at 124.10 out of reach for now.
Below the spike high see continued selling pressure.
122.20 marks short-term support that needs to be broken to expose further downside.
While the bias remains neutral, risk is to the downside eyeing a retest of the 121.6 support.
I hope this offers some directional clarity for traders.
Enjoy!
Good evening traders!
The spike high at 123.86 on December 30th was matched with quick selling pressure and is keeping the previous swing high at 124.10 out of reach for now.
Below the spike high see continued selling pressure.
122.20 marks short-term support that needs to be broken to expose further downside.
While the bias remains neutral, risk is to the downside eyeing a retest of the 121.6 support.
I hope this offers some directional clarity for traders.
Enjoy!
