Today's Support and Resistance Levels:
R3: 135.05
R2: 134.55
R1: 134.18
Current Spot: 133.97
S1: 133.60
S2: 133.33
S3: 132.96
Technical Summary:
With the break below short term support at 133.84 we have seen a correction lower to 133.60 and we could still see a slightly deeper correction towards 133.57 and maybe even 133.33 before the next impulsive rally higher towards 135.76 and possibly higher towards 137.70 in wave iii of iii takes off. Only a break below important support at 132.61 will invalidate the bullish count and indicate, that a much more complex correction is unfolding for a decline towards 131.52 before up again.
Today's Support and Resistance Levels:
R3: 1.6233
R2: 1.6173
R1: 1.6136
Current Spot: 1.6104
S1: 1.6081
S2: 1.6057
S3: 1.6017
Technical Summary:
Ideally we will now see minor resistance at 1.6136 protect the upside for a break below minor support at 1.6081 and more importantly a break below 1.6057, which confirms a continuation lower towards 1.6017 on the way to the ideal target at 1.5872 where this ongoing wave C finally comes to an end and a new impulsive rally will take over for a new rally to 172.74 and higher.
A break above minor resistance at 1.6136 will indicate, that a more complex blue wave iv is unfolding as a running triangle, but it should trade below resistance at 1.6173 for the break below 1.6057 and lower. A break above 1.6173 will be of concern and a break above 1.6183 and more importantly a break above 1.6233 will indicate that wave C is already in place and the new impulsive rally higher already has begun.
