[B]Bias: [/B] I feel the major risk is lower now but could be choppy
While momentum hasn't shown clearly defined bearish divergences at the 133.59 high I feel they are probably correct and thus I feel the larger risk is bearish. The only problem is that the anticipated decline could be quite erratic and choppy. A break below this morning's low at the 132.58 pivot support area should extend losses through 132.20 and 131.80 and into the
130.92-31 support area. Take care here as this could hold in an alternative bullish structure. Breach would maintain losses.
Please view the complete analysis in the attached PDF file.
For a full description of how to use the analysis please see the Analysis page of my website. The prior day's set ups for potential trading levels highlighted in the report are now available on the Daily Forecast page of my web site.
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