04-Hour Chart
30-Minute Chart
(CLICK ON THE CHART TO ENLARGE IT)On Dailies the bottom of bullish channel (blue line) worked as support. See white arrow. But 24EMA (yellow line) is now working as resistance to this pullback after the break of this major triangle.
On 4-hour chart the pullback of down move 166.68 to 159.66 was exactly 38.00% fibo (see yellow fibo lines).
On the 30-minute chart the pullback of the down move 164.09 to 159.66 is 61.80% fibo (see white fibo lines).
It´s early to say if the pullback after the break of the major triangle is over thus resuming the bearish trend. But I´ve got to go for one side so my opinion is for the bearish side. Points are:
SELL break 160.40 with STOP 160.70 and 1st LIMIT at 159.66. Just close half your position, reposition your STOP to 160.20 and let your profits run.
159.40 is major support. Add new lots to your short position if 159.40 gets broken.
If the pullback isn´t over yet, points are:
BUY break 162.40 with tight STOP at 162.10 and LIMIT a little bit below 164.00, let´s say around 163.80.
