An analysis thread I read stated this:
*STRATEGY :
The trend is extremely bearish and we will follow it with sell orders at the reactions. Sell opportunities emerge at 1,3220-30 and 1,3320-30 area. Important support is found at the wider area of 1,3100. We will look for reversal signs at these levels in order to try small buy orders with target at 1,3180-00.
The PA has bounced off the EMA a 2nd time now, which is in fact also the daily Support1 pivot line. 4hr stochs are showing oversold, doesn’t seem bearish at all and the overall trend could be a thinning asymmetrical triangle couldn’t it? Oh, and the MFI shows a bullish divergence.
