An update for my friends the short term traders: The last candle with the small, small body shows us the location of the next short term trading resistance level at 1240-1250. No one wants to pay more and no one wants to sell for less at this level, a typical borderline situation.

The automatic resistance line (blue) confirms the level of round about 1250, but that’s not all, the price tested this level more than one time (08. December until now). This indicates that the level of 1240-1250 could be a strong resistance. (more…)