One more dip to 106.2150 is likely followed by a grind higher to 107.2700. After which it can resume its downtrend.

Technical Forecast

  • Elliott Wave

    elongated flat correction down 105.8030

Key Points

  • Key Point106.29
  • Entry Point106.75
  • Trendline 1107.54
  • Trendline 2106.99
  • Elliott108.23
  • Closing106.48
  • Ex-Low105.95
  • Ex-High107.40
  • Projection105.80

Supports and Resistance levels

  • Support 1105.82
  • Support 2105.16
  • Resistance 1107.27
  • Resistance 2108.06
  • Pivot106.61

Bullish reaction to above 108.1433 is anticipated from 107.2100 - 106.9700 zone. Stop loss below 106.5033 zone.

Technical Forecast

  • Elliott Wave

    crucial reversal point

  • Trend Warning

    Warning: Harami

Key Points

  • Key Point107.17
  • Entry Point107.12
  • Trendline 1106.93
  • Trendline 2107.17
  • Elliott104.97
  • Closing107.21
  • Ex-Low106.73
  • Ex-High108.37
  • Projection108.67

Supports and Resistance levels

  • Support 1106.50
  • Support 2105.80
  • Resistance 1108.14
  • Resistance 2109.08
  • Pivot107.44

Market should not go lower than 105.7000 - 103.5133. After this move down it should go up to 109.3450 - 110.8033 area.

Technical Forecast

  • Elliott Wave

    resistance in an elongated correction 108.4150

  • Trend Warning

    Warning: End of trend - Imminent end of bearish move

Key Points

  • Key Point105.70
  • Entry Point108.34
  • Trendline 1111.97
  • Trendline 2109.86
  • Elliott117.94
  • Closing106.43
  • Ex-Low104.97
  • Ex-High112.26
  • Projection103.74

Supports and Resistance levels

  • Support 1103.51
  • Support 2100.60
  • Resistance 1110.80
  • Resistance 2115.18
  • Pivot107.89