Preference: SHORT positions below 1286 with 1267 & 1261 in sight.
Alternative scenario: The upside breakout of 1286 will open the way to 1294 & 1303.
Comment: a break below 1267 would trigger a drop towards 1261
The red lines are the supports, the green lines are the resistances and the blue line is the pivot point (the key level where we would turn bullish from bearish, or bearish from bullish). There is no one-way for calculating our supports and resistances. We favour the use of Fibonacci levels (either via a retracement or a projection), along with classical technical levels (gaps, horizontal lines, etc.). The choice will depend on the current market configuration.
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