Today's Support and Resistance Levels:
R3: 142.65
R2: 142.55
R1: 142.46
Current Spot: 142.38
S1: 142.17
S2: 142.03
S3: 141.90
Technical Summary:
It is now possible to count the first small five wave decline of the 143.47, which is the first good indication that wave ii is finally over. As possible targets for this first small five wave decline I will be looking for 142.17 and 141.90. A clear break below 142.17 would call for a move closer to 141.90 before a three wave correction towards 142.69 and maybe 142.87 as a small wave two should develop. Longer term I'm looking for the powerful wave iii lower towards at least 138.06 and possibly even lower towards 135.78.
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