1-Day Analysis:
Big Picture: Multiple resistance on the upside leading towards an intra-day consolidation. This consolidation is likely to invite a strong impulse on either-side. On upside a clean break above 132 leads towards Price Break-out which is likely to establish 155-198 as next extensive upsides.
On Downside 112-110 level holding well. However if price goes below 110 then further extension of re-test levels are likely to be seen which will put 100-98 back into play. A successful re-test would be very good sign for the Bulls who are then likely to lead charts for the coming weeks.
On Upside first intra-day resistance is still observed at 122 level followed by 125. If price holds above 125 then we are likely to see it test EMA-50 Daily at 132.30 followed by Channel resistance at 134. However, this consolidation above 110 favors bulls to challenge the break-out levels.
