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- Any downside is expected to be limited around 1062 levels as the support level located at 1060 is likely to hold the bears from falling further below and bring a rebound back towards higher levels.
- To the upside, the strong resistance can be seen 1078, a break above this level would expose the commodity towards 1085 levels.
- To the downside immediate support can be seen at 1065, a break below at this level will open the door towards 1060 levels.
Recommendation: Go long around 1065, targets around 1075/1085, SL 1057
Support levels: S1-1065, S2-1060, S3-1057
Resistance levels: R1-1070, R2-1078, R3-1085
