Today's Support and Resistance Levels:
R3: 143.92
R2: 143.57
R1: 143.46
Current spot: 143.38
S1: 143.00
S2: 142.46
S3: 141.86 - Important support. Break below here confirms the top.
Technical Summary:
The target at 143.24 has been hit. An important top should be imminent. The first indication of the top being in place is a break below 143.00 and the top will be confirmed upon a break below 141.86.
Short term we could see a slight extension higher towards 143.46 and 143.57 as long as support at 143.15 and more importantly as long as support at 143.00 protects the downside, but a break below 143.00 will be the first good indication, that a top is in place.
Today's Support and Resistance Levels:
R3: 1.6869
R2: 1.6808
R1: 1.6766
Current Spot: 1.6761
S1: 1.6731
S2: 1.6681
S2: 1.6661
Technical Summary:
It finally seems as we are ready to challenge the upside for a test of resistance at 1.6869 to end the expanding diagonal. Once the target at 1.6869 is hit, look for a correction towards 1.6569 before the next powerful rally takes over for a rally higher towards 1.7239.
That said, we must be aware of a possible much more bullish scenario, where the expanding leading diagonal ended already at 1.6808 and the coming rally will be a much more powerful wave iii rally, that will break right above 1.6869 and move higher towards 1.7239.
Short term support at 1.6681 and more importantly support at 1.6661 should protect the downside for the break above 1.6808 confirming a test of resistance at 1.6869.
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