While above 109.2200 - 108.9267 zone a corrective dip could test 109.5133 or 109.9167. After which it should resume his downtrend.

Technical Forecast

  • Elliott Wave

    flat correction down 108.7900

  • Trend Warning

    Warning: Harami

Key Points

  • Key Point109.06
  • Entry Point109.70
  • Trendline 1109.11
  • Trendline 2109.43
  • Elliott110.12
  • Closing109.33
  • Ex-Low109.11
  • Ex-High110.10
  • Projection108.79

Supports and Resistance levels

  • Support 1108.93
  • Support 2108.52
  • Resistance 1109.92
  • Resistance 2110.50
  • Pivot109.51

Market should not go lower than 105.5099. After this move down it should go up to 111.4433 area.

Technical Forecast

  • Elliott Wave

    flat correction down 107.2200

  • Trend Warning

    Warning: Imminent end of bearish move

Key Points

  • Key Point107.13
  • Entry Point109.40
  • Trendline 1112.67
  • Trendline 2110.68
  • Elliott114.66
  • Closing108.45
  • Ex-Low107.91
  • Ex-High112.67
  • Projection107.22

Supports and Resistance levels

  • Support 1106.68
  • Support 2104.92
  • Resistance 1111.44
  • Resistance 2114.44
  • Pivot109.68

It is likely to fall towards 109.3000 - 106.8800 unless a corrective rally breaks the 113.1900 resistance. Stop above 114.4000 zone.

Technical Forecast

  • Elliott Wave

    irregular flat correction down 110.0914

  • Trend Warning

    Warning: Low Zone - Harami

Key Points

  • Key Point111.53
  • Entry Point112.46
  • Trendline 1113.97
  • Trendline 2113.40
  • Elliott117.94
  • Closing111.72
  • Ex-Low109.56
  • Ex-High114.66
  • Projection107.67

Supports and Resistance levels

  • Support 1109.30
  • Support 2106.88
  • Resistance 1114.40
  • Resistance 2117.08
  • Pivot111.98