Today's Support and Resistance Levels:
R3: 141.26
R2: 140.54
R1: 140.03
Current Spot: 139.68
S1: 139.17
S2: 138.72
S3: 138.17
Technical Summary:
The rally from 136.23 extended and has forced us to change the short term count. Our new preferred count shows that a series of waves i-ii is developing. If this count is correct we should soon see a top for a break below minor support at 139.50 and more importantly below support at 139.17 that will be the first good indication that, this red wave (ii) has terminated and red wave (iii) lower towards at least 131.61 is developing. However, as long as support at 139.50 protects the downside we could see a slightly higher high close to 140.25, but at no point can a break above 141.26 be allowed as that will invalidate this bearish count.
Today's Support and Resistance Levels:
R3: 1.6550
R2: 1.6527
R1: 1.6485
Current Spot 1.6455
S1: 1.6390
S2: 1.6344
S3: 1.6310
Technical Summary:
We have been range trading between 1.6417 and 1.6527 since yesterday without much indication of the next direction. However, we still think that a break towards the upside is most likely and will be confirmed by a break above minor resistance at 1.6485 and more importantly a break above 1.6550 confirming a continuation higher towards 1.6787 and above. At this point only a break below support at 1.6390 will invalidate the bullish count and add a slight downside pressure, but the downside should be limited and at no point should support at 1.6214 be broken.
Hi EWS:
ReplyDeleteHave you look the 61,8 Fibo level of the precedent trend? I think it's at 140.129, where the price is playing these last days...
Hi Manuel,
DeleteI think we have the top in place now at 140.36, just above the target you mentioned.
Kind regards
EWS
hello guys i have a problem with wave labeled abc in black at the middell i can't get it i think there some thing wrong in it i see it as a flat but its subdivison is now it's 3-3-3 you know there some thing not right in it i think this why we all do this miss counting
ReplyDeletei think we are in the middel of an extensino to the up side and all of this from 136 is nothing but 1-2 ,, i-ii ,, I-II WOULD you plz try to look to it that way and tell us what you think !!!!
ReplyDeleteHi Ahmed,
DeleteThe bullish count you are looking at is clearly a possibility. I will not adopt a bullish Count before we break above resistance at 141.26, but it's a both possible and valid count.
Therefore you should stay with it and set the invalidation point and enjoy the ride.
Kind regards
EWS
thank you fingur cross to be bull move ha ha ha ha ha
ReplyDelete