General overview for 23/09/2014 11:00 CET
None of the important key levels has been invalidated yet, so traders must wait for the market to make up its mind and give more clues about further price movement. Nevertheless, the corrective structure labeled as abc purple looks completed and market might start to rebound impulsively to the upside to continue the purple wave progression. This count is valid as long as the level of 139.16 is not violated.
Support/Resistance:
141.22- Swing High|WR1|
140.20 - Intraday Resistance
139.84 - Weekly Pivot
139.67 - Intraday Support
139.16 - Purple Impulsive Count Invalidation Level
138.46 - WS1
138.25 - Blue Impulsive Count Invalidation Level
137.12 - WS2
Trading recommendations:
Last wave to the downside has been made, so, day traders should consider opening buy orders from the current price levels with SL below the level of 139.16 and TP above the level of 140.26.
