will it bounce or break???

The price is now approaching a confluence of a descending trendline and the last broken support at 138.20; which is at the proximity of 50% and 61.8% fib level. A bounce form this level is needed to ensure the bears are very much alive.

On the other hand,  dull and directionless trading sessions could be expected on Monday and Tuesday as the market is waiting for FOMC data release on Wednesday.

Below is the daily chart as of this weekend.


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