While the price is below the resistance 114.70, beginning of downtrend is expected.
We make sure when the support at 111.60 breaks.
If the resistance at 114.70 is broken, the short-term forecast -beginning of downtrend- will be invalid.
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 55.