Today's Support and Resistance Levels:
R3: 142.28
R2: 142.01
R1: 141.67
Current Spot: 141.34
S1: 141.19
S2: 140.73
S3: 140.42
Technical Summary:
As expected the decline of the 143.47 high was impulsive and more downside pressure should be seen. As the target for blue wave iii we are looking for a move closer to 140.73 before a correction higher to just below strong short term support at 141.66 in blue wave iv. Once blue wave iv is over we should see the next impulsive decline, which ideally will end just below 139.96 and end red wave i and set the stages for a correction in red wave ii towards 141.66 and maybe even higher towards 142.09.
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