The rally was sold and the dip bought resulting in little net change yesterday. News events could adversley affect the short term technical picture. The overnight rally has been sold into and there is scope for further bearish pressure going into this morning. Price action is forming a bearish flag which has a bias to break to the downside. Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible. This has resulted in mixed signals and we prefer to trade a break.
We look to Sell a break of 26900 Stop: 27000 Target 1: 26660 Target 2: 26500