I’ve said in another analysis that the price can start a corrective movement because the buyers seem exhausted. Since then we had another bullish momentum, the price has reached the previous high from 8 December 2014. As you can see from the Daily chart, the price didn’t have the power to jump and close above this resistance. My scenario is still in play, the price has failed to reach the median line of the pitchfork, this is a bearish signal, moreover the price has broke the lower median line, has tested this broken line and now is going down. The price is trading below 120,47 suport zone. The rate needs to overcome other obstacles but we have an important bearish signal and if the price will continue to decline, then we’ll have a broader correction.


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