Preference: SHORT positions below 1337 with 1310 & 1290 as next targets.
Alternative scenario: The upside breakout of 1337 will open the way to 1348 & 1360.
Comment: as long as 1337 is resistance, likely decline to 1310.
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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