While the price is below the resistance 114.55, beginning of downtrend is expected.
We make sure when the support at 111.60 breaks.
If the resistance at 114.55 is broken, the short-term forecast -beginning of downtrend- will be invalid.
We will close our open trades, if the Midterm level 111.60 is broken.
While the RSI support #1 at 43 is not broken, the probability of price decrease would be too low.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 56.