Technical Outlook and Chart Setups:
A 4H view has been presented here today. As depicted here, intermediary support remains at 32.50 level followed by 32.00 and 30.80 respectively; while resistance is at 35.00/10 levels. Please note that the larger trend remains bullish, but a retracement or further pullback still possible towards 31.50 levels. Key levels to watch in the near term are 32.50 and 32.00. Hence it is recommended to keep booking smaller profit cycles at the moment. Immediate resistance is seen around the 33.65/70 mark, which could be reached today or in the short term.
Trading Recommendations:
Exit long positions (taken last week) at 33.60/65 and stop is below 32.50.
Good Luck!
