The 77.45/55 area comprising a horizontal-line connecting low since mid-January and a descending trend-line since April 18 seem tough resistance on the upside, a break of which can recall 78.20 and 100-day simple moving average (SMA) around 78.65.
Meanwhile, 76.00 can offer nearby support ahead of 75.30 that can further drive the prices down towards 74.50 and June 2016 bottom near 72.40.


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