The offers last week above 92.50 were very heavy indeed and despite a set-up which looked perfect for the bulls, the market was unable to sustain any momentum. The danger here as I see it is that most of the buying was speculative and if they suddenly have to start selling, then we could be in for major volatility. I prefer to sell rallies here with stops above the corporate offers which are supposedly still layered towards 93.15. My target is the low from 4 weeks ago at 88.00.