- Heavy offers reported between 97.70/85;
- Technical support at 97.25 200-DMA (see chart);
- Weekly close below will be a major technical event;
Two ways of playing this in my opinion:
Bears can try selling intraday rallies towards 97.70 and adding on a break back below 97.00. Cut the position if it can’t close below 97.25.
Bulls can try buying near 97.00/10 if it stalls there for long enough in the hope that the close tonight below 97.25 doesn’t happen.