Daily Preview of GJ

GJ looks weak today.Coupled with the fact that the stock markets are also weak, this spells danger for longs. 146.8 looks like a strong support but its only a matter of time before it breaks. I expect a push towards 147.5 and then a big drop down to break the support and go all the way till 145.5..The range is getting narrower by the hour which would mean that a big breakout is coming. I expect a break down towards 145.5 and then to 143.7..

If it indeed manages to go till 148, then we can expect 149 and then 150. But i doubt this scenario.