Technical Outlook and Chart Setups:
4H view has been presented here. Prices are still testing the trendline support and yesterday seems to be a corrective pullback before giving it up to fresh lows. 35.16 is now resistance while 33.50 is intermediary support which should be broken soon. We recommend traders to stay short and/or build fresh short positions now, targetting a break lower towards atleast 32.50 levels initially. 32.50 is also reinforced with past support on charts. Please note that potential remains for a break down towards the longer term support line, that is passing through 29.00/30.00 region for now.
Trading Recommendations:
Stay short for now, target 32.50 at least.
Good Luck!
