Today's Support and Resistance Levels:
R3: 142.50
R2: 142.11
R1: 140.90
Current Spot: 141.37
S1: 141.19
S2: 140.90
S3: 140.43
Technical Summary:
The wave ii correction is becoming more complex than first expected. The deep decline from 141.89 have to be counted as an x-wave and that means a new zig-zag correction is developing. However, the ideal target area between 142.11 - 142.50 stays intact. Short term I will be looking for support near 141.19 for the next rally higher towards 141.90 and into the target area between 142.11 - 142.50 before the next real downside pressure.
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