General overview for 20/06/2014 08:35 CET
The wave progression develops as indicated, but the overall count has been changed slightly to accomodate a possible more copmplex development in the upward wave C black of wave 2 black. Currently the price is above the weekly pivot level and next level of the resistnace is at the level of 139.36. The key level for intraday traders is intraday resistance at the level of 138.85. A breakout higher means the impulsive wave progression is intact. For a bearish case, only a sustained breakout below the low of the wave 2 red is important.
Support/Resistance:
138.39 - Wave 2 red Low
138.55 = Weekly Pivot
138.60 - Intraday Support
138.85 - Intraday Resistance
139.36 - WR1
Trading recommendations:
Long positions from yesterday should still be in play and next level to add to the existing positions is 138.85 (breakout).
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