Nothing really have changed here. After a day of narrow range-trading, we continue to look for a break above minor resistance at 142.63 to confirm that wave iv/ has completed and wave v/ higher towards 151.50 is developing.
That said, we need to be aware, that as long as minor resistance at 142.63 is able to cap the upside. A dip to below 142.12 can not be excluded, even though we think the odds for this outcome is very low.
R3: 144.18
R2: 143.13
R1: 142.63
Pivot: 141.85
S1: 141.12
S2: 140.60
S3: 140.03
Trading recommendation:
We will buy a break above 142.63 with our stop placed at 142.00
