General overview for 01/08/2016:
The bottom for the wave c green seem to be in place, but this corrective counter-trend wave progression might evolve into more complex and time consuming pattern. If there is no clear break out above the level of 117.12, then this scenario is very likely.
Support/Resistance:
118.45 - Technical Resistance
118.15 - WR2
117.12 - Intraday Resistance
115.85 - WR1
114.86 - Weekly Pivot
113.91 - Intraday Support
112.62 - WS1
111.61 - WS1
Trading recommendations:
Traders should refrain from trading as there is no clear trading setup yet. The corrective cycle might still be unfolding as any of the key levels hasn't been violated yet.
