One more dip to 221.3700 - 220.1767 is likely followed by a grind higher to 223.3700 - 224.1767. After which it can resume its downtrend.

Technical Forecast

  • Elliott Wave

    extended impulse wave down 219.9866

  • Trend Warning

    Warning: End of trend - Imminent end of bearish move

Key Points

  • Key Point220.92
  • Entry Point222.36
  • Trendline 1225.23
  • Trendline 2223.23
  • Elliott228.39
  • Closing221.79
  • Ex-Low220.95
  • Ex-High224.95
  • Projection218.25

Supports and Resistance levels

  • Support 1220.18
  • Support 2218.56
  • Resistance 1224.18
  • Resistance 2226.56
  • Pivot222.56

Market should not go lower than 224.4000 - 223.0700. After this move down it should go up to 226.4250 - 227.1200 area.

Technical Forecast

  • Elliott Wave

    flat correction down 222.6228

  • Trend Warning

    Warning: Harami

Key Points

  • Key Point223.63
  • Entry Point225.79
  • Trendline 1227.98
  • Trendline 2227.63
  • Elliott230.36
  • Closing224.46
  • Ex-Low224.34
  • Ex-High228.39
  • Projection221.30

Supports and Resistance levels

  • Support 1223.07
  • Support 2221.68
  • Resistance 1227.12
  • Resistance 2229.78
  • Pivot225.73

It may meet resistance in 221.7900 - 224.3667 zone for a drift down to 218.3733 zone, after which bounce to 227.7833 is anticipated.

Technical Forecast

  • Elliott Wave

    flat correction down 219.3400

  • Trend Warning

    Warning: Imminent end of bearish move

Key Points

  • Key Point217.93
  • Entry Point220.18
  • Trendline 1230.36
  • Trendline 2219.32
  • Elliott241.40
  • Closing221.79
  • Ex-Low220.95
  • Ex-High230.36
  • Projection219.34

Supports and Resistance levels

  • Support 1218.37
  • Support 2214.96
  • Resistance 1227.78
  • Resistance 2233.78
  • Pivot224.37