Today's Support and Resistance Levels:
R3: 142.35
R2: 142.21
R1: 141.95
Current Spot: 141.82
S1: 141.80
S2: 141.43
S3: 140.98
Technical Summary:
Important support at 140.91 is still unbroken, which keeps the underlying uptrend intact. However, the break below the support-line from 134.10 is adding confidence in an important top being in place at 142.83.
Short term look for a minor rally towards 142.35 as long as support at 141.39 protects the downside. From 142.35 or upon a break below 141.39 expect a new test and this time successful break below important support at 140.91 for a continuation lower towards 138.43.
Today's Support and Resistance Levels:
R3: 1.6869
R2: 1.6779
R1: 1.6718
Current Spot: 1.6691
S1: 1.6666
S2: 1.6603
S2: 1.6556
Technical Summary:
Nothing new here. I'm still looking for the last rally higher towards 1.6869 to finish the leading diagonal. After a correction lower from 1.6869 towards 1.6556 a new impulsive rally higher towards 1.7239 is expected.
Short term look for support at 1.6666 to protect the downside for a break above 1.6718 confirming the rally towards 1.6869 is under way.
EWS- EZ- Been watching this 4hr Triangle build for 6 days... break up to 1.73? Triangles are B's or 4's? I can see both on chart?
ReplyDeleteHi Jeff,
ReplyDeleteI have been watching the same triangle and regard it as wave iv of the leading diagonal.
I only expect a break out of the triangle will be able to make it to around 1.6869 and then Down.
However, this is quite a messy priceaction we have seen over the last month or so. I think the reason is, that it's all part of an even greather correction going on.
All we can do is to try to hang on the best we have learned...
Kind regards
EWS