Pivot: 1272
Our preference: Long positions above 1272 with targets @ 1362 1434 in extension.
Alternative scenario: Below 1272 look for further downside with 1235 1180 as targets.
Comment: the RSI is supported by a rising trend line. The 20-day and 50-day moving averages are rising and are supporting the commodity in a bullish trend.
Supports and resistances:
1485
1434
1362
1335 Last
1272
1235
1180
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