Yesterdays rise saw the crucial 7405 resistance level break. Bulls now need to defend this and also 7380. A break of this is likely to lead to 7300 and probably 7260.
With 7405 breaking we can safely presume that 7305 on Tuesday is the short term low and the bulls are now back in the game. The 2 hour chart is bullish again, with support also showing at 7385. Previous resistance there also becomes support.
All up to the bulls now but cable rising and oil falling is slowing the rise.
With 7405 breaking we can safely presume that 7305 on Tuesday is the short term low and the bulls are now back in the game. The 2 hour chart is bullish again, with support also showing at 7385. Previous resistance there also becomes support.
All up to the bulls now but cable rising and oil falling is slowing the rise.