| A strong intermediate resistance lies around $1,278-85 followed by a stronger one at $1,295-1,305. Only a fall below $1,250 could revive bearish hopes for $1,208-10 levels. The favoured view expects prices to test resistance around $1,295-1,305, while supports around $1,245-50 holds for the week.
But subsequently, we expect prices to dip again. Only a direct rise above $1,320 on high volumes on a closing basis could revive bullish hopes. Such a rise will hint that the downward correction has ended and the rally above $1,400 levels has begun...........................................Full Article: Source
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