Today's Support and Resistance Levels:
R3: 139.89
R2: 139.70
R1: 139.51
Current Spot: 139.19
S1: 138.97 - A break below here will be the first good indication, that a top is in place.
S2: 138.31
S3: 137.77
Technical Summary:
I'm still looking evidence, that the top of wave v of 5 could be in place. A break below 138.97 will be the first good indication, but a break below 137.10 is needed to confirm the top and that a major wave II correction towards at least 124.92 is developing.
As long as short term important support at 138.97 protects the downside we could still see a break above minor resistance at 139.51 for one last rally to just above the former high at 139.70 and a move closer to 139.89 before the final top is in place.
Today's Support and Resistance Levels:
R3: 1.6727
R2: 1.6680
R1: 1.6620
Current Spot: 1.6594
S1: 1.6540
S2: 1.6446
S3: 1.6353
Technical Summary:
The deep correction from the 1.6843 high and break below 1.6595 confirms, that green wave v and red wave i ended at 1.6843 and that red wave ii is currently correcting red wave i. This correction should at least test 1.6540, but could become deeper and correct towards 1.6446 and maybe even lower towards 1.6353 before the powerful red wave iii will be ready to take over.
Short term we should likely see a consolidation between 1.6575 and 1.6620 before the next decline towards 1.6540 and maybe even lower.
Hi EWS
ReplyDeleteThanks for DJI could you please take a look at ZAR in 4 HR and see what you think from last high at 10.4588 now retraced 50% of high what do you think we should expect next
Best Regards jt