Last week prices broke up the important resistance level at 93.78 unleasing the bulls up to 94.80. Then prices started a Bearish correction bigger than expected, closing below the same 93.78 price level.
On April 08th prices formed a beautiful Hammer at exaclty an important Bullish Trendline, strongly favouring the Bulls.
But the fact that on April 09th prices found resistance, again, at the same important price level 93.78 and closed below this level, along with all oscillators at Overbought area and already pointing down, indicates that this Bullish momentum is losing steam.
So my strategy is to enter SHORT below the following support levels: 93.11 and 92.85.
I will enter LONG above 93.78.
I will enter LONG above 93.78.
