Low Weekly Cycle approaching within the week ending Feb 5th and the one ending Feb 19th. Although weekly RSI4 is at 23.58 (below 30) I expect further down penetration possibly to the 12700 area May (see red support line) or 12500 area March with First Notice Day approaching on Feb 18th and the rapid devaluation of the Brazilian Real and Colombian Peso, thus increasing the selling pressure.

Once we see the market closing above the daily 9MA I would consider it changing trend direction in the mid term but not in the longer term after the damage done to the monthly chart in January.

Heaviest Traded Area for kck0 at 13285 and for kch0 13100, last Friday.

The following are technicals for kck0:

PIVOT 13162
RES1 13274
RES2 13477
SUPP1 12959
SUPP2 12847

4DAY MA 13240
9DAY MA 13390

Happy Tradings!!!

Nagual1