Spot Price: 123.70
Technical Analysis:
The MACD is heading for a bullish cross, the RSI is pointing up but nearing the o/b levels.
We decided to cut our losses on the short trade after the latest attempt to retest the most recent hourly swing lows near 123.45 was intercepted by buyers. The risk of prices eventually removing the 123.75 range tops is increasing. Hourlies bottomed out mid-range, while dailies remain bullish but a bit overbought. Buy another 123.45 bounce.