Price has broken lower and is currently testing the upper
Cloud support, below Daily S1. Strong support sits at 14150
level and the lower end of the Cloud. If price close above the
Cloud or the Daily S1, we may see buyers stepping in and
pushing price higher, back towards the channel. If a close
inside the Cloud, trend on this timeframe turns Neutral and
a test of the 14150 level and the Daily S2 becomes more
likely. Bulls will not want to see a close below the Cloud,
the weekly and monthly pivot point cluster (14100-300)
and the Daily S2. That would be quite bearish and we might see
a drop to the 13500 level again (red line).
Cloud support, below Daily S1. Strong support sits at 14150
level and the lower end of the Cloud. If price close above the
Cloud or the Daily S1, we may see buyers stepping in and
pushing price higher, back towards the channel. If a close
inside the Cloud, trend on this timeframe turns Neutral and
a test of the 14150 level and the Daily S2 becomes more
likely. Bulls will not want to see a close below the Cloud,
the weekly and monthly pivot point cluster (14100-300)
and the Daily S2. That would be quite bearish and we might see
a drop to the 13500 level again (red line).