- The commodity has slightly retreated after making a high of $1112. It is currently trading at $1099.
- Short term trend is still bullish as long as support $1078 holds. Any break below $1078 will drag the commodity to next level $1070/$1060.
- Overall trend reversal only below $1045.
- On the higher side major resistance is around $1112 and any break above will take the pair till $1125/$1138/$1150.
It is good to buy at dips around $1090-95 with SL around $1078 for the TP of $1125/$1148.
The material has been provided by InstaForex Company – www.instaforex.com