General overview for 23/06/2016:
The level of 119.47 has been violated, so now the alternative count is in charge. According to this count, the bottom for the wave Z brown of the overall corrective cycle is now in place at the level of 115.48 and the market should continue moving higher. The next important level would be the intraday resistance at the level of 121.06.
Support/Resistance:
115.06 - WS1
115.48 - Local Low
117.72 - Weekly Pivot
119.46 - Intraday Support
119.94 - WR1
121.06 - Intraday Resistance
122.54 - WR2
124.18 - Wave X Top
Trading recommendations:
All swing sell orders should be closed because the market might be at the turning point when the bigger time frame cycles have bottomed and a new impulsive cycle to the upside might have started.
