Our preferred outlook is for a drift down to 122.554161 or below 122.436333. Resistances are at 122.671997 and 122.741829. A rise above 122.859657 would delay but not abort this expected fall.

Technical Forecast

  • Elliott Wave

    correction zigzag

Key Points

  • Key Point122.57
  • Entry Point122.75
  • Trendline 1122.68
  • Trendline 2123.31
  • Elliott122.93
  • Closing122.67
  • Ex-Low122.62
  • Ex-High122.93
  • Projection122.29

Supports and Resistance levels

  • Support 1122.55
  • Support 2122.44
  • Resistance 1122.86
  • Resistance 2123.05
  • Pivot122.74

Corrective dips should ideally halt near 121.692497 or 121.350662 for one more thrust upwards towards 122.657997 - 123.281662 area or 123.965332 in extention. Fall below 120.103333 puts it back on a downward path.

Technical Forecast

  • Elliott Wave

    flat correction up

Key Points

  • Key Point123.44
  • Entry Point122.12
  • Trendline 1122.28
  • Trendline 2122.63
  • Elliott120.79
  • Closing122.60
  • Ex-Low120.79
  • Ex-High122.72
  • Projection123.74

Supports and Resistance levels

  • Support 1121.35
  • Support 2120.10
  • Resistance 1123.28
  • Resistance 2123.97
  • Pivot122.03

Market should not go lower than 120.990509 - 119.581345. After this move down it should go up to 123.140518 - 123.881363 area.

Technical Forecast

  • Elliott Wave

    elongated flat resistance in downtrend

Key Points

  • Key Point119.80
  • Entry Point122.40
  • Trendline 1125.28
  • Trendline 2123.62
  • Elliott127.50
  • Closing121.06
  • Ex-Low120.92
  • Ex-High125.22
  • Projection118.90

Supports and Resistance levels

  • Support 1119.58
  • Support 2118.10
  • Resistance 1123.88
  • Resistance 2126.70
  • Pivot122.40