[B]Bias: [/B] I expect the day to end lower but while 94.12 supports the initial
risk is for a test of the 94.90-95.20 resistance
Basically I feel that we should be on the lookout for a bearish reversal pattern right from the start today as price has done enough to satisfy the correction now. However,I will go with the favored view that we'll see the 94.90-95.20 resistance but this will provoke the expected reversal lower.
While this rally is possible the 94.12-18 support must hold. Thus from 94.90-95.20 or a direct breach of 94.12 look for losses to resume back through Friday's 93.41 low and onto 93.05, 92.42 and then to the 92.03 target. I expect a bounce there but do also note the 91.74 low.
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