The price has finally dropped to our buying level which is major support at 111.77 (Fibonacci retracement, Fibonacci extension, Elliott wave theory, horizontal overlap support) and we expect a bounce above this level for a push up to at least 114.32 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,5,3) is approaching major support at 1.2% which corresponds with the bounce we're expecting at price.
Buy above 111.77. Stop loss is at 110.88. Take profit is at 114.32.
No comments:
Post a Comment