Overview
H4 chart: yesterday's closing below the Resistance level of 169.40 gave 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 of 167.40 and closing 4h below. In that case we may get another opportunity for more sell signals and it opens the way towards 166.25, as first target, and then the price should test the Support level of 166.25 to continue its bearish move. But as long as the price stabilizes above the Support level of 167.40 it cancels the first scenario.
Resistance and support levels: R3 (170.00), R2 (169.40), R1 (168.60), S1 (167.40), S2 (166.25), S3 (165.30).
