General overview for 24/01/2014 07:30 CET
Due to waves overlap, the main count has been invalidated and alternate count is the correct one.
Intraday waves progression suggests a possible triangle pattern forming within the wave X black, as long as the green trend lines are not violated. Otherwise, the sell-off might accelerate once the level of 141.02 is broken to the downside.
Support/Resistance:
142.90 - Wave b High
142.32 - WR1
141.75 - Intraday Resistiance
141.41- Weekly Pivot
141.02 - Intraday Support
140.30 - 140.49 - Technical Support
139.92 - WS1
Trading recommendations:
In case of the level of 141.02 breakout, the short positions should be opened with SL above the level of 141.41 and TP at the level of 140.49.
