(CLICK ON THE CHART TO ENLARGE IT)# On dailies the Double-Top at 161.36 prize zone held the bulls. Last week there were several attemps to break this level with several false breakouts, reaching the tops 161.50 and 161.71. Dailies are bearish with lots of important supports, such as:
* 159.36 - 50,00% fibo bearish move 166.68 to 152.06 and low of April 11th
* 159.24 - High April 01st
* 158.80 - Low April 10th
* 158.56 - 62EMA on April 11th
* 158.37 - High March 28th
# The 30-Minute Chart shows a Bullish Channel that got broken on April 09th and there was a pull-back to it on April 11th to the top 161.36. This short-term move strongly favours the bears.
But only if prices break this trade range 159.24 - 161.36.
Also the 30-minute chart indicates a short-term bullish retracement. So watch out for entering any short positions. this trade range 159.24 - 161.36 might get consolidated next week.
30-Minute Chart - Big Picture
30-Minute Chart - Close-up
My points are:## SELL break 159.24 with STOP 159.55 and LIMIT 158.37. If the break of 159.24 really comes into play, a good strategy would be to keep this short opened and add lots at the break of all supports mentioned above and let the profits run.
## BUY break 159.95 with STOP 159.80 and LIMIT 160.40. Keep in mind: prices might chase the top 161.36.
