Today's Support and Resistance Levels:
R3: 142.17
R2: 141.76
R1: 141.47
Current Spot: 141.18
S1: 140.90
S2: 140.64
S3: 140.22
Technical Summary:
The break above short term important resistance at 141.55 made me go back to my original short term count (see my update from yesterday here) . This count shows that red wave i ended at 140.08 and since then red wave ii has been developing. It is possible that red wave ii ended with the test of 141.76 yesterday, as that marked the 50% corrective target of red wave i, but the decline from 141.76 does not really look impulsive and therefore I think that one more new high closer to the 61.8% corrective target at 142.17 will be seen before red wave iii takes over for a decline towards 136.33.
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