Market should not go lower than 128.087189 - 127.735168. After this move down it should go up to 128.665131 - 128.891052 area.

Technical Forecast

  • Elliott Wave

    irregular flat correction down

Key Points

  • Key Point127.81
  • Entry Point128.59
  • Trendline 1129.14
  • Trendline 2129.03
  • Elliott129.26
  • Closing128.19
  • Ex-Low127.99
  • Ex-High129.14
  • Projection127.68

Supports and Resistance levels

  • Support 1127.74
  • Support 2127.28
  • Resistance 1128.89
  • Resistance 2129.60
  • Pivot128.44

It looks more likely that it would rise to 128.965912 - 129.744812 from 128.087173 or 127.697723. After which a downside move is expected.

Technical Forecast

  • Elliott Wave

    irregular flat correction down

Key Points

  • Key Point127.75
  • Entry Point128.50
  • Trendline 1127.99
  • Trendline 2128.35
  • Elliott129.26
  • Closing128.19
  • Ex-Low127.99
  • Ex-High129.26
  • Projection127.62

Supports and Resistance levels

  • Support 1127.70
  • Support 2127.21
  • Resistance 1128.97
  • Resistance 2129.74
  • Pivot128.48

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