General overview for 11/11/2014 11:11 CET
There is not enough evidence to assume the recent wave development is a completed corrective cycle in blue wave 4. Now, the new impulsive wave to the upside has started. The reason is that the corrective cycle can still be labeled as a more complex and time-consuming cycle in the shape in an irregular flat correction (alternative labeling). Only a clear breakout above the level of 144.22 would put this possibility into question.
Support/Resistance:
44.59 - WR1
144.22 - Technical Resistance
142.91 - Intraday Resistance
142.50 - Weekly Pivot
142.19 - Intraday Support
141.66 - Intraday Support
140.79 - WS1
138.62 - WS2
Trading recommendations:
Yesterday buy orders have not been triggered and now the outlook is still uncertain, so traders should refrain from trading until clear pattern emerge.
