TECHNICALS:

WEEKLY CHART – CONTINUATION:

Earlier this year the surge in prices extended beyond the 893.25 Feb-11 high, but the market has failed to stay above.

DAILY CHART – Mar-13:

After a multi-month consolidation, with downward bias, the market has finally dropped below the 38.2% retracement level, giving bears a boost.

The next interesting support area comes from the 765.17 61.8% retracement and 754.50 21-May high.