Market should not go lower than 128.424438 - 128.129700. After this move down it should go up to 128.881317 - 129.043472 area.

Technical Forecast

  • Elliott Wave

    elongated flat correction down

Key Points

  • Key Point128.06
  • Entry Point128.68
  • Trendline 1128.92
  • Trendline 2128.92
  • Elliott129.31
  • Closing128.45
  • Ex-Low128.39
  • Ex-High129.31
  • Projection127.60

Supports and Resistance levels

  • Support 1128.13
  • Support 2127.81
  • Resistance 1129.04
  • Resistance 2129.63
  • Pivot128.72

While above 128.192474 - 127.820435 zone a corrective dip could test 128.564529 or 129.198059.

Technical Forecast

  • Elliott Wave

    zigzag or flat correction

Key Points

  • Key Point128.31
  • Entry Point128.19
  • Trendline 1128.07
  • Trendline 2128.15
  • Elliott127.50
  • Closing128.45
  • Ex-Low127.93
  • Ex-High129.31
  • Projection129.14

Supports and Resistance levels

  • Support 1127.82
  • Support 2127.19
  • Resistance 1129.20
  • Resistance 2129.94
  • Pivot128.56

It is likely to fall towards 127.253250 - 126.052505 unless a corrective rally breaks the 129.301117 resistance. Stop above 129.901489 zone.

Technical Forecast

  • Elliott Wave

Key Points

  • Key Point127.78
  • Entry Point128.47
  • Trendline 1130.40
  • Trendline 2128.66
  • Elliott133.13
  • Closing128.45
  • Ex-Low127.50
  • Ex-High130.15
  • Projection124.91

Supports and Resistance levels

  • Support 1127.25
  • Support 2126.05
  • Resistance 1129.90
  • Resistance 2131.35
  • Pivot128.70