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- RES 3: 99.165 - High Nov 20
- RES 2: 99.035 - High Dec 23 and key resistance
- RES 1: 99.002 - 50-DMA
- PRICE: 98.375 @ 16:33 GMT Feb 23
- SUP 1: 98.345 - Low Feb 23
- SUP 2: 98.249 - 38.2% March Sell-Off
- SUP 3: 98.300 - 3.0% Lower Bollinger Band
The medium-term outlook deteriorated further Monday, with prices hitting new cycle lows of 98.360. This adds further pressure to the already bearish outlook, particularly as prices took out the 50% Fib for the March - April 2020 recovery at 98.423. This opens 98.249, the 38.2% Fib for the March 2020 sell-off. On the upside, an initial key resistance has been defined at 99.035, Dec 23 high.