moise254

moise254

It should trade lower to 1339.934937 with resistance around 1354.446533 and 1360.310303. A break of 1368.958130 is bullish confirmed by a close above 1356.934082 PS;the break of yesterdays pattern into a mini-impulse wave was as a result of 'dumb money' - smart money/institutions stayed out of the fad,consequently, the change was negligible as it will be seen

moise254

60min chart: The TP2 (16510) has been reached. We closed the remaining 50% of our position and now we are looking for the next opportunity to enter the market 240min chart: A Medium probability, entry signal to go LONG will be given with the upward break of 16740 after the market found support at 16500. Only the downward break of 16500 would cancel the bullish...

moise254

The market is in an uptrend and we are waiting for an entry signal to go LONG above the 46.70 resistance level. Only the downward break of 46.10 would cancel the bullish scenario.

moise254

Waiting for the downward break of 1341 support level which will complete a bearish trend reversal pattern to go SHORT. Only the upward break of 1352 would cancel the bearish scenario and take us LONG.

moise254

Current rise ends near 1.3048-1.3105 to allow a retracement towards the 1.2992 -1.2961 zones

moise254

Gains can extend to 1.1300 or even higher than 1.1340. Pullbacks should find support around 1.1228 or even 1.1196 zone. Declines below 1.1114 could turn bearish;keep an eye on that as well.

moise254

The broadening/inverted triangle pattern should advance to the 113.801254 area(gaining momentum for the obvious head-shoulders reversal formation) after which a sell off to 112.8631 - 112.4651 area is likely

moise254 Updated 

Likely to rise to 1.1210- 1.1260 area from 1.1145 or 1.1121.Then a downside move. My analysis validate to me that what we are dealing with is a higher degree 3-5-3 correction that will end with a sharp downside move,however make your own validations as you analyze. NB;today's trend is bullish with a potential of 0.00642(0.58%) to about 0.01145(1.03%) gains.

moise254

A hold below 1.5282 will see a fall to 1.5280.However if the market breaks the 1.5565 point it could fly all the way to the heavens

moise254

Should try higher up to the 0.9760 - 0.9776 area after which a correction(pullback) beyond 0.9734 is expected. For Elliot students,you will note that the correction will end a higher degree correction(that started 4days ago) that is wave two that had the 3-5-3 formation. NB switch the time frame to 15min chart....for a better validation

moise254

CURRENT MOVE WILL EXPERIENCE SUPPORT IN 113.142334 -112.981262;for a rise to around 113.893 however if it breaks below 112.7135 will open for a bearish move

moise254

After the downward move, a rally to the 103.098 should create a proper buy opportunity- a motive wave.

moise254

A 3-5-3 correction with a pullback to 101.972260-101.527290.