– Monday Daily candle closed Bullish at 200.250 approaching Weekly Rejection but overall there hasn’t been much volume due to UK Bank Holiday. I’ll be looking for potential Buys above 200.550 targeting previous Weekly Support formed on 11th May 2008 around 200.900, Leaving Runners to the previous Weekly Low formed on 17th August 2008 around 201.680. I’ll be looking for potential Sells below 200.040 targeting Hourly Support formed around 199.630 and Daily Support around 199.200. Despite price been extremely Bullish on all timeframes price is starting to show signs of exhaustion for Buys as Daily candles are becoming much smaller as price approaches recent Weekly Rejection so there is a probability for price to form Resistance on the Daily timeframe for a retracement.
