One more dip to 2.1594 - 2.15 is likely followed by a grind higher to 2.1760 - 2.1832. After which it can resume its downtrend.

Technical Forecast

  • Elliott Wave

    extension wave down 2.1501

  • Trend Warning

    Warning: Imminent end of bearish move

Key Points

  • Key Point2.1581
  • Entry Point2.1688
  • Trendline 12.1822
  • Trendline 22.1768
  • Elliott2.2141
  • Closing2.1645
  • Ex-Low2.1543
  • Ex-High2.1875
  • Projection2.1370

Supports and Resistance levels

  • Support 12.1500
  • Support 22.1356
  • Resistance 12.1832
  • Resistance 22.2020
  • Pivot2.1688

Market should not go lower than 2.1479. After this move down it should go up to 2.2393 area.

Technical Forecast

  • Elliott Wave

    crucial reversal point

  • Trend Warning

    Warning: End of trend - Imminent end of bearish move

Key Points

  • Key Point2.1553
  • Entry Point2.2151
  • Trendline 12.2704
  • Trendline 22.2336
  • Elliott2.3363
  • Closing2.1818
  • Ex-Low2.1796
  • Ex-High2.2669
  • Projection2.1042

Supports and Resistance levels

  • Support 12.1520
  • Support 22.1221
  • Resistance 12.2393
  • Resistance 22.2967
  • Pivot2.2094

It may meet resistance in 2.2764 - 2.2934 zone for a drift down to below 2.2165 zone.

Technical Forecast

  • Elliott Wave

    elongated flat correction down 2.2255

  • Trend Warning

    Warning: End of trend - Imminent end of bearish move

Key Points

  • Key Point2.2371
  • Entry Point2.2731
  • Trendline 12.3544
  • Trendline 22.3060
  • Elliott2.4968
  • Closing2.2504
  • Ex-Low2.2425
  • Ex-High2.3363
  • Projection2.2255

Supports and Resistance levels

  • Support 12.2165
  • Support 22.1826
  • Resistance 12.3103
  • Resistance 22.3702
  • Pivot2.2764