By Randolph Donney — Dec 09 - 02:30 PM
Series of four higher daily lows was broken on Friday, favoring shorts
But prices rebounded to inside Thursday's tight range in non-confirmation
Week's 137.85 rebound high on EBS faltered just below 23.6% and 50% Fibos
Those of falls from 151.94 and 142.25 highs to Dec's 133.62 low at 137.94
Prices also below the downtrend line from 142.25 and 13-DMA at 137.29/41
That trendline will fall to 136.92 on Monday
Shorts look ok while below those downtrend reinforcements
A second probe of 200-DMA at 135.06 looks likely
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Source:
Refinitiv IFR Research/Market Commentary