It should trade higher to 2.1754 while 2.1496 or 2.1423 offers support. Stop loss below 2.1350 zone.

Technical Forecast

  • Elliott Wave

    zigzag or flat correction 2.1796

  • Trend Warning

    Warning: Engulfing pattern

Key Points

  • Key Point2.1773
  • Entry Point2.1506
  • Trendline 12.1425
  • Trendline 22.1425
  • Elliott2.1239
  • Closing2.1607
  • Ex-Low2.1239
  • Ex-High2.1643
  • Projection2.1796

Supports and Resistance levels

  • Support 12.1350
  • Support 22.1092
  • Resistance 12.1754
  • Resistance 22.1900
  • Pivot2.1496

Market should not go lower than 2.1230. After this move down it should go up to 2.1990 area.

Technical Forecast

  • Elliott Wave

    crucial reversal point

  • Trend Warning

    Warning: End of trend - Imminent end of bearish move

Key Points

  • Key Point2.1330
  • Entry Point2.1701
  • Trendline 12.2213
  • Trendline 22.1750
  • Elliott2.3363
  • Closing2.1556
  • Ex-Low2.1423
  • Ex-High2.2141
  • Projection2.1042

Supports and Resistance levels

  • Support 12.1272
  • Support 22.0989
  • Resistance 12.1990
  • Resistance 22.2425
  • Pivot2.1707

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