General overview for 17/12/2013 09:30 CET
The anticipated Head and Shoulder formation has been developed now; however, the slight upside wave development might be possible to finish wave c green of wave ii correction.
The Key Level for intraday trading is 142.10 and if it gets broken, more upside is possible up to last high test.
The neckline for H&S is 140.90 support level and if broken, technical support at 140.00 will be tested.
Support/Resistance:
142.80 - 4 year's high
142.63 - WR1
142.10 - Intraday Resistance
141.77 - Weekly Pivot
141.45 - Intraday Support
141.21 - Intraday Support
140.90 - Technical Support
140.73 - WS1
Trading recommendations:
As long as 142.10 holds short side of the market should be in play with SL just above 142.11 level and TP at 141.21.
