The market posture is negative. The slide back through last Wednesday’s reversal leaves trade positioned to continue attacking under 104.34. A close under 104.34 projects to 104.00 - 103.57. Any near term rebounds will find resistance at 105.34. A close over 105.36 (SAR) is needed to recapture bottoming / bullish trade action.

R2        105.34
R1        105.06

S1        104.60
S2        104.32