The next bullish target emerges at 92.46

A continuation of the uptrend seems likely in the short term. That said, there is a minor hurdle at 92.46, where a Fibonacci level from the 2020-2021 dip lies. Higher up is the 200-day SMA at 92.91.

A break above the latter should change the outlook to a more constructive one and allow further gains until initially the November 2020 highs near 94.30 (November 2).

Daily chart

Technical Levels

.

You may also like