Overview
From the today's H4 chart, yesterday's closing below the resistance area consists of the Resistance level 164.60 with the upper boundary of the bullish channel to give the price an opportunity for a bearish move. As shown here, currently the price is trying to continue its bearish move by breaking the support level 164.00 and closing 4h below. In that case, we may get another opportunity for more sell signals, and it opens the way towards 163.25, as first target, and then the price should test the support level 162.60 to continue its bearish move. But as long as the price stabilizes above the support level 164.00, it cancels the first scenario.
Resistance and support levels: R3 (166.00), R2 (165.30), R1 (164.60), S1 (164.00), S2 (163.25), S3 (162.60).
