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Weekly Scenario:
The medium and the short term trend is down,we had a nice bounce terminating in the 28.56-29.00 zone as mentioned in the daily updates.Now with this upcoming week resistance would be seen at 27.90-28.25 and the downtrend must be in force until the recent high of 28.47 remains intact.We can test 24.26-22 zone within the coming weeks ahead.
Note:Prices are trading well below the long term trend lines supporting our bearish forecast.
Have a great trading week ahead.
The medium and the short term trend is down,we had a nice bounce terminating in the 28.56-29.00 zone as mentioned in the daily updates.Now with this upcoming week resistance would be seen at 27.90-28.25 and the downtrend must be in force until the recent high of 28.47 remains intact.We can test 24.26-22 zone within the coming weeks ahead.
Note:Prices are trading well below the long term trend lines supporting our bearish forecast.
Have a great trading week ahead.
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