The break of 177.95 resistance indicates short term bottoming at 175.07. Intraday bias is back on the upside for 181.53 resistance first. Firm break there should indicate that the fall from 187.93 has also finished too. On the downside, however, sustained break of 175.26/41 will carry larger bearish implications.
In the bigger picture, price action from 187.93 is seen as a corrective pattern to up trend from 154.77 (2025 low). Strong support should be seen from 175.41 cluster support (2025 high) and 38.2% retracement of 154.77 to 187.93 at 175.26 to contain downside. However, decisive break will raise the chance of larger bearish reversal and target 61.8% retracement at 167.43.
