Trading in a non-directional market on both the Monthly and Weekly time frame, and given the current Monthly Supply in Control scenario, only shorts are allowed. Hence, should prices trade out of the 1.09 level, potential shorts may be taken.
However, a note to take is that prices may have already reacted to the daily supply, causing the drop in prices in the past 2 days. That said, this is still on my watch list as it will be very interesting to see how prices react to the zone should prices rally into it.
However, a note to take is that prices may have already reacted to the daily supply, causing the drop in prices in the past 2 days. That said, this is still on my watch list as it will be very interesting to see how prices react to the zone should prices rally into it.