Our preferred view is for a drift down to 108.273819 or below 108.105659. Resistances is at 108.282684. A rise above 108.663254 would delay but not abort this expected fall.

Technical Forecast

  • Elliott Wave

    correction zigzag

Key Points

  • Key Point108.57
  • Entry Point108.47
  • Trendline 1108.20
  • Trendline 2108.77
  • Elliott107.82
  • Closing108.44
  • Ex-Low108.33
  • Ex-High108.72
  • Projection108.62

Supports and Resistance levels

  • Support 1108.27
  • Support 2108.11
  • Resistance 1108.66
  • Resistance 2108.88
  • Pivot108.50

Current fall is near an end of wave around 107.794502 zone, a rally should then procede to above 108.591125. Fall below 107.407501 would cancel this scenario.

Technical Forecast

  • Elliott Wave

    extension wave down

Key Points

  • Key Point108.15
  • Entry Point107.77
  • Trendline 1108.57
  • Trendline 2107.30
  • Elliott110.67
  • Closing108.18
  • Ex-Low107.82
  • Ex-High108.61
  • Projection106.98

Supports and Resistance levels

  • Support 1107.79
  • Support 2107.41
  • Resistance 1108.59
  • Resistance 2109.00
  • Pivot108.20

Market should not go lower than 108.279503 - 107.142006. After this move down it should go up to 109.985748 - 110.554497 area.

Technical Forecast

  • Elliott Wave

    correction zigzag

Key Points

  • Key Point106.57
  • Entry Point109.42
  • Trendline 1111.69
  • Trendline 2110.98
  • Elliott112.40
  • Closing108.28
  • Ex-Low108.28
  • Ex-High111.69
  • Projection104.70

Supports and Resistance levels

  • Support 1107.14
  • Support 2106.00
  • Resistance 1110.55
  • Resistance 2112.83
  • Pivot109.42