General overview for 05/06/2014 06:50 CET
The corrective wave structure is developing in the anticipated way, creating a downward wave B black. Currently, there is one more wave missing to complete the irregular flat correction. However, please notice that it does not mean the whole wave B black will be completed as the corrective cycle might get more complex and become more time-consuming. Any breakout above the level of 139.95 is bullish and a potential corrective cycle would be over then.
Support/Resistance:
140.11 - WR2
139.86 - 139.95 - Technical Resistance
139.49 - WR1
139.47 - Intraday Resistance
139.10 - Intraday Support
138.73 - Weekly Pivot
Trading recommendations:
Short orders advised yesterday should be still kept open with the target at the level of 139.10.
