Bounce but still pressured
(see prior post).
The bounce took the price to 112.49. The 112.57-657 is now resistance (was support – see hourly chart below). The move lower also tested (and breached briefly) the 112.299 swing low from November 20.
We are currently back down testing that 100 day MA. It is a key level. A break below should lead to more selling momentum. Holding keeps the buyers in play (with resistance at 112.57-657)
On more dollar selling:
- 111.372. Low from October 26.
- 110.745. 38.2% retracement, and the
- 200 day MA at 110.533 are potential targets over time