Technical outlook and chart setups:
As depicted on the 4H chart setup here, the prices have virtually remained unchanged from yesterday, just ahead of 122.00/50 levels. This could be providing short-term resistance, followed by 124.00 level higher up. A break above 124.00 would re-confirm bullish outlook ahead. Intermediary support is provided by 119.00 level, followed by 117.00 and lower. It is recommended to remain flat for 1-2 trading sessions to get further confirmation of directions.
Trading recommendations:
Flat for now.
Good Luck!
