ADX indicator started to show signs of a stronger bearish trend, while prices attempt to stabilize below SMA50 at 36.70-36.75 and below SMA20 at 37.15.
Trading below 37.15 is negative and would bring declines towards 35.50-35.55, while a break below 35.55 will accelerate the bearishness.
Only a break above 38.50 gives us a rational reason for concern.
Support: 36.10 – 35.50 – 35.50
Resistance: 37.15 – 38.00 – 38.50
Direction: Bearish