Daily Pivots: (S1) 146.46; (P) 147.45; (R1) 148.57; More…
Strong break of 145.99 support suggests that fall from 149.48 has resumed. And rebound from 142.76 has completed ahead of 149.70 resistance. Intraday bias is turned back to the downside for 142.76 support. Break will target key support zone at 139.29 again. On the upside, above 145.99 support turned resistance will turn intraday bias neutral first.
In the bigger picture, as long as 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) holds, up trend from 122.36 (2016 low) would still extend beyond 156.69 high. However, decisive break of 139.29/47 will suggest that such up trend is completed and turn outlook bearish. In that case, next target is 61.8% retracement at 135.43.
