Technical look at NY
The March 2021 position loses the important level of 120 cents and, thereby, the short-term strength. Even so, it remains within a positive technical area on ICE U.S. The market remains above the averages of 21 and 40 times and long-term levels, which guarantees some technical relief. The challenge is to recover the level of 120 cents and beat the graphic top at 124.80 cents. The next targets are the levels of 130 cents and the graphic top at 135.65 cents.
Downward, pay attention to the average of 21 times (116.63 cents) and the bottom at 115.60 cents, as well as the levels of 200 and 100 times (114.92 and 115.47 cents). The bearish target is the level of 110 cents and then the graphic bottom at 104.8 cents.