Technical outlook and chart setups:
As shown on the 4H chart view here, prices have bounced off the trendline that extends long-term support around 123.00 mark. Intermediary support is at 123.00 at the moment, followed by 121.00, while resistance is spread across 126.00, 127.90/128.00, and 129.00 respectively. It is recommended to hold on the long positions taken last week around 123.20/30 region for an extended rally. Intraday dips could be considered as opportunities to go long again.
Trading recommendations:
Hold on to long positions taken earlier, add longs on intraday dips. Stop is at 122.00 and target is at 129.0
Good Luck!
