Monthly stochastics in sell from the overbought region supporting a correction.Rising wedge support at 1280.
The weekly candle was extremely bullish on good volumes. It was the highest close in the last seven weeks.Stochastics has given a buy after reaching the oversold levels indicating the pullback may continue.
Daily stochastics has reached the overbought level. 1345 may prove good resistance triggering a pullback.
Resistance now at 1345-1365-1392. Support at 1322-1310-1300-1291-1258.Only a fall below 1258 will reverse the trend.
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