The technical outlook has not changed for days. We are still trading very slowly in a correction to the up move which topped at 94.77, which is a correction that managed to reach its first target at 92.85. We are still watching for any other technical evidences to decide whether this correction has finished at Fibonacci 38.2% or that it is still going and will soon target Fibonacci 50% & 61.8% levels. But, we now have a very important support which combines Fibonacci 50% with the rising trend line from 88.12. This all important support is at 92.26 and in case it is broken, the price will continue its drop from 94.77 (the correction), and will target the most important support for the short term (and may be the medium term as well) 91.66, and if broken we will target 91.07 as a modest target for such a break on the way to lower targets. As for the resistance, we raised it to

93.61, and breaking it would indicate that we are back to the 94areas after completing a modest correction, and we will target 94.24 & 95.05.

Support:

* 92.26: Fibonacci 50% for the rise from 89.74, and the rising trend line from 88.12 on the 4-hour chart, a very important support for both, short & medium terms.

* 91.66: Fibonacci 61.8% for the rise from 89.74.

* 91.07: Mar 12th high.

Resistance:

* 93.61: an intraday resistance which stopped the price several times.

* 94.24: Apr 7th high.

* 95.05: Aug 24th high.