General overview for 21/07/2015 08:50 CET
Sideways consolidation continues fter a successful intraday test of the intraday support at 134.36. The market is range bounded between the levels of 135.04 and 134.36. A breakout to the upside is being expected, but any breakout below the intraday support at the level of 134.36 would extend a downfall towards the wave A blue support at the level of 133.28.
Support/Resistance:
135.77 - WR3
136.17 - WR2
135.34 - WR1
135.04 - Weekly Pivot
134.74 - Intraday Resistance
134.36 - Intraday Support
134.23 - WS1
133.89 - WS2
133.28 - Swing Low
133.09 - WS3
Trading recommendations:
Due to the sideways price action, trading advise is still valid: buying on dips is a way to trade on this market and daytraders should consider opening sell orders only if the level of 134.36 is clearly violated ( hourly candle close below this level).
