Technical Analysis:

From the Hourly chart we can see that there is a great support on 661.5. Upward trend still ongoing, we can see there is purchasing power near 661-663.

RSI is on 54.165 and it is on a rising trend. MACD is just cross over from bottom. Indicating buying signal.

On the Daily chart, RSI is on 66.123, stating the buying power still strong, and MACD still on a upper level, however stochastic is starting cross over on top, this give a signal that 669 may be the highest point in the near future.

News:

There is no market data yesterday night. Treasury budget (Jan) is USD 382 Billion which is slightly lower consensus (USD 400 Billion) that has lower the strength of USD index from 85.15 down to 85.00.
Saudi Arabia Oil Minister has delcare there is not necessary for additonal crude oil cut on production, and will increase shipment to Asian refiners. That causes oil dropped $2 to 57.78.

Strategy:

Long @ 662, 657
Stop loss @ 654


Short @ 665, 668
Stop loss @ 672