Pivot: 104.40
Our preference: SHORT positions below 104.4 with 102.7 102 as next targets.
Alternative scenario: The upside penetration of 104.4 will call for 105.85 107.5.
Comment: as long as 104.4 is resistance, look for choppy price action with a bearish bias.
Trend: ST Consolidation; MT Bullish
Key levels Comment
107.5** Intraday resistance
105.85** Intraday resistance
104.4*** Intraday pivot point
104.35 Last
102.7** Intraday support
102** Intraday support
100.8** Intraday support
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