Today's Support and Resistance Levels:
R3: 142.82
R2: 142.17
R1: 141.69
Current Spot: 141.36
S1: 140.99
S2: 140.40
S3: 139.96
Technical Summary:
Ideally we will see support at 140.99 protect the downside for a break above 141.69 confirming, that the final rally higher towards 142.80 and possibly even higher towards 144.00 if the final wave extends. That said, we are close to the top for the rally of the 94.10 low. Once the top is in place we should be looking for a correction lower towards at least 124.95 and possibly even lower towards 118.72. However, for now we should be focused towards the upside as long as support at 140.99 and more importantly as long as support at 140.00 protect the downside. Only a break below 140.00 will indicate, that wave v of 5 is in place, while a break below 138.42 will confirm the top.
Today's Support and Resistance Levels:
R3: 167.50
R2: 167.16
R1: 166.61
Current Spot: 1.6626
S1: 1.6584
S2: 1.6550
S3: 1.6516
Technical Summary:
I'm still looking for green wave iii to push over resistance at 1.6750 confirming, that a new powerful rally towards at least 1.7239 is developing. As long as resistance at 1.6750 stays unbroken the bearish alternative count, which comes into play upon a break below 1.6470, is very much a possible count that we must respect. That said, I will stay focused towards the upside for a break above 1.6661 and more importantly the break above 1.6750 as long as support at 1.6521 protects the downside. A break below 1.6521 will be the first indication, that the alternative count could be in action.
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