Spot Price: 121.40
Technical Analysis:
Long taken as prices tried but failed to break the morning lows at 121.25 and moderately o/s hourlies began to trend back up. We remain concerned about the M-T channel top now at 122.00 as resistance as well as o/b daily studies. Morning rally fizzled at 121.68 and 121.20-25 supports may be tested again. Our target is at 122.85, resistance from Dec 2002