General overview for 24/07/2014 19:30 CET
It looks like the market has chosen to follow the alternate count, but to confirm this scenario, the high of the wave 2 green top must be clearly broken. This is the key level to watch for all bears, because any breakout higher means the alternate count is in play and the corrective cycle might go even higher if the golden trendline is broken.
Support/Resistance:
136.18 - WS1
136.35 - Wave b green Low
136.75 - Intraday Support
137.30 - Weekly Pivot
137.33 - Intraday Resistance |Key Level|
137.65 - Technical Resistance
Trading recommendations:
Any breakout higher above the key level means swing and daytraders should keep the open short positions as the corrective wave to the upside has started.
