Spot Price: 122.30
Technical Analysis:
Downtrend accelerated today, taking the short trade to a low of 122.24 before another o/s hourly bounce developed. Minor downtrend resistance is now near 123.05. Our stop is beyond there and will be trailed lower with the TL. Daily charts are rather bearish and look to have substantial scope to the downside yet. 1% MA envelop at 122.15 is the next cover TP.