By Randolph Donney — May 02 - 03:30 PM
Tuesday's 137.78 EBS high by March's 137.90 peak left it overbought
Prices corrected lower, so far holding above Monday's 136.20 low
Also above the 38.2% and 50% Fibos of the 133.005-7.78 rise at 135.96/5.39
The latter is also the daily tenkan
Value bid at 135.15 near where the 200-HMA will rise to on Wednesday
And also by the April 19 swing high at 135.14
Fibos targets off Jan & March lows and March-April base are at 140.33/39
But a close above hurdles by 138 is needed to trigger a breakout
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Source:
Refinitiv IFR Research/Market Commentary