(Click on the Daily Chart to enlarge it)
Prices are locked up in a major Bullish Channel.
But an important resistance level between 138.72 (Aug 07th´s High) and 139.22 (June 05th´s High) along with Stochastics at Overbought levels and RSI Away from its 21-Period Moving Average all favour a Bearish Correction.
My Strategy is to SELL SHORT at these aforementioned resistance levels with tight STOPS aiming the LIMITS 137.00 and 136.36.
I´ll add lots if prices broke down the support 136.07, but with extreme caution for any reversal pattern.
If I´m wrong I´ll enter LONG at break of 139.22
If I´m wrong I´ll enter LONG at break of 139.22
