(Click on the chart to enlarge it)
The Double-Top at 138.72 in the beginning of the month triggered a big bearish move down to 132.19.
The Double-Top, Stochastics not oversold yet, MACD pointing down, RSI below its Moving Average and prices closing below the 62EMA all favour the bears.
BUT, prices are still respecting a major Bullish Trendline.
So, watch for this Bullish trendline and the following supports: 132.90 and 132.20.
Strategy is to enter SHORT at break of 13.40, 132.90 and 132.20.
A consistent break of 131.40 might trigger a bearish move down to 127.00
