Our preferred view is for a drift down to 128.048080 or below 127.785172. Resistances is at 128.161224. A rise above 128.623825 would delay but not abort this expected fall.

Technical Forecast

  • Elliott Wave

    flat correction up

Key Points

  • Key Point128.41
  • Entry Point128.26
  • Trendline 1127.98
  • Trendline 2128.52
  • Elliott127.62
  • Closing128.31
  • Ex-Low128.10
  • Ex-High128.67
  • Projection128.66

Supports and Resistance levels

  • Support 1128.05
  • Support 2127.79
  • Resistance 1128.62
  • Resistance 2128.94
  • Pivot128.36

It looks more likely that it would rise to 129.100189 - 129.889374 from 127.966187 or 127.571594. After which a downside move is expected.

Technical Forecast

  • Elliott Wave

    flat correction down

Key Points

  • Key Point128.24
  • Entry Point128.73
  • Trendline 1129.15
  • Trendline 2128.99
  • Elliott129.31
  • Closing128.31
  • Ex-Low127.62
  • Ex-High129.15
  • Projection127.50

Supports and Resistance levels

  • Support 1127.57
  • Support 2126.83
  • Resistance 1129.10
  • Resistance 2129.89
  • Pivot128.36

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