General overview for 04/10/2016:
The intraday resistance at the level of 114.38 has been taken out, but so far the bullish rally does not look so much impulsive as it should. Nevertheless, the market trades above all moving averages and above the weekly pivot, so the intraday outlook is still bullish. Only a clear, sustained break out below the weekly pivot would invalidate the bullish outlook.
Support/Resistance:
112.07 - Technical Support
112.25 - Intraday Support
112.83 - WS1
113.50 - Weekly Pivot
114.38 - Intraday Resistance
114.78 - WR1
115.54 - WR2
Trading recommendations:
Day traders should refrain from trading until a more clearer trading setup occurs.
