Today's Support and Resistance Levels:
R3: 141.63
R2: 141.23
R1:140.98
Current Spot: 140.71
S1: 140.53
S2: 140.33
S3: 140.17
Technical Summary:
The break above resistance at 140.07 told us, that we shall look for a rally towards at least 142.40, where wave c will be equal in length to wave a, but we could see wave c extend higher towards the 2 times wave a target at 145.61 in a flat correction before we should see renewed downside pressure.
Short term I will be looking for support at 140.33 protecting the downside for the next rally higher towards 142.40 as the first major target for this rally.
Today's Support and Resistance Levels:
R3: 1.6578
R2: 1.6525
R1: 1.6459
Current Spot: 1.6430
S1: 1.6405
S2: 1.6359
S3: 1.6305
Technical Summary:
We have finally broken above resistance at 1.6430 and should see an acceleration higher towards 1.6525 and higher towards 1.6787. Short term we will ideally see the former resistance at 1.6430 act as support, but only a break below support at 1.6405 will frustrate our bullish view for a move closer to 1.6342, but this support can not be broken as that will invalidate my bullish expectations.
Hi EWS ZAR looking like starting ending pattern looks like triple abc wxy nearly down to wave iv @ 10.7928
ReplyDeletedo you think we are ready for push up TYR looking the same but simple abc down to wave iv
What are your thoughts EWS
Brgs jt
Hi JT,
DeleteI you are right regarding ZAR and that wave iv is likely in place for the last rally higher.
Regarding TRU we will likely also see a move higher, but that is likely part of wave b and once over we should see a powerful decline in wave c.
Kind regards
EWS
Thank EWS have a great day Brgs jt
ReplyDelete