Traders should watch out for a rebound from here.
Moreover, as stated in the morning outlook, a rebound from here followed by a break above $1255 could signal recovery ahead, especially since 4-hr RSI is oversold now and prices have failed to stay below daily 50-SMA on daily closing basis for last two trading sessions.
Hence, a rebound from here could signal a possible rise to "D".. which is seen around $1280 levels.
Moreover, as stated in the morning outlook, a rebound from here followed by a break above $1255 could signal recovery ahead, especially since 4-hr RSI is oversold now and prices have failed to stay below daily 50-SMA on daily closing basis for last two trading sessions.
Hence, a rebound from here could signal a possible rise to "D".. which is seen around $1280 levels.
