Spot Price: 118.40
Technical Analysis:
Booked profits on the latest short after a bounce out of the 118.50 swing high from Mar 12. The plunge in prices of late has taken prices below the 2% MA envelope base near 118.75 and not far from uptrend line support from May 2006, now at 118.20, with triple daily lows from April at 118.25 just ahead. Bearish and looking to sell rallies.