WEEKLY CHART Price swings have continued here, with the market still unable to hold below the 76.4% level.

On the upside a recovery through the current 23.6% rebound level at 134.30 would be a positive sign.

DAILY CHART:

Recent strength has been putting pressure on the bear channel top at 132.25/30.

A close above this would be positive, but a further recovery through the 134.21/30 area (Nov high and 23.6% level, see Weekly chart above) is needed for a decent bull signal. We would then start calculating higher targets.

First support could lie around the 129.31 30-Nov low.