(Click on the Daily chart to enlarge it)
In the beginning of this week prices broke down the lower trendline of a major Bullish Channel, favouring the bears.
Now, last Friday Oct 02nd prices formed a Spinning Top at the major support area 129.84, showing indecision. A rule of thumb for Spinning Tops is that the next trading day will probably move in the direction of the opening price.
So my strategy will be to follow this rule: if prices open above 130.35 and keeps heading up, I´ll enter LONG, aiming the 132.03 and 132.60 as LIMITS; if prices open below 130.35 and keeps heading down, I´ll enter SHORT and will add lots at the break of 129.84 and 129.05.
