General Overview for 03/12/2014 07:20 CET
The intraday resistance at the level of 148.15 has capped the upside rally twice so far and it looks like the price might now want to finally test the lower boundary of the intraday price range between the levels of 148.15 - 147.07. As there are some important fundamental news later this week, the market might stay in this "wait and see" mode for a little longer, making the corrective cycle longer and more time consuming. Nevertheless, the bias is still to the downside.
Support/Resistance:
149.11 - WR1
148.15 - Intraday Resistance
147.34 - Weekly Pivot
147.04 - Intraday Support
146.65 - WS1
145.68 - Technical Support
144.89 - WS2
144.54 - 144.74 - Minimum Target Projection Level
Trading recommendations:
As advised yesterday, sell orders should had been opened, with SL above the level of 148.14 and TP at the level of 144.77.
