March Schatz ran in to resistance at 110.26/27 and failed here breaking lower then for 110.16/15. We looked for low for the day but over ran to 110.125. Below here today targets excellent support at 110.05 and although the market is not severely oversold there is a chance of a low for the week here. However a break could see 109.99/98 next.
Today however the topside should remain limited and resistance at 110.21/22 then 110.26/27 should be a struggle. Above here however 11031/32 should see us top out if tested.