12 July Friday View

Boost of price off the level 30590 (USD 1268.70) on Wednesday evening was contained by 31300 (USD 1298.12) close to previously tested 31415 (USD 1302.89) resistance.

So far, the H1 trendline is holding (image=12Jul_H1) but the price will have to break and hold 31300 first and then 31500 (USD 1306.42) for any further gains. For today 30590 (USD 1268.70) and then 30000 (USD 1244.21) should provide support.

In H4 chart (image=12Jul_H4), price now has retraced back from the previous fall to 150 SMA. Just look at the attached image to get the feeling how importantly this SMA plays a role in price movements.

Trade Happy, Trade Safe :)