04-HOUR CHART
(CLICK ON THE CHART TO ENLARGE IT)Ok, I´ll say the obvious: It is bearish. But every significant move has its bounce back. All daily and 04-hour indicators favour the bearish. But 234.70 looks like it wants to hold the bears, and its due to the fact that it´s very close to the high on Jan 02nd and 3rd, 2007 so it´s a historical support and, this historical support is at exactly the last Fan line (see blue lines) from up move 221.25 to 251.14 (see white arow on daily chart). If I´m wrong and prices don´t bounce back from there, we also have the 234.40 as support, which is the 123.60% fibo projection on the 04--hour chart (see blue lines). So, want to go short as I do, be patient and wait for the break of 234.40. Otherwise, f-up with the 30 or even the 05-minute chart for a bounce back. My guess: Short break 234.40
