Wait for touch in 113.12 and sharp rise | 01 ديسمبر 2016

Daily chart: there are first signs of oscillator divergence, that indicates that the long-awaited downward reversal is close. However, upper Bollinger band is still rising towards 116.26. We shoud proceed from the fact that the price would test this range before reversing.

Н4: local support level is 112.91 and local resistance level is 114.59 (middle and upper bands respectively).

Н1: more localized support level is around 113.12 (lower band). Resistance is around 114.93 (upper Bollinger band). The price is likely to hold for some time around 113.12 after what soar up.

Expectations: wait for a drop towards 113.12 after what a shift towards 114.93.

Solutions:

1. Sell around 113.12

2. Buy from 113.12 to 114.93.