Wave summary:
There is no change in view here. We are looking for a minor rally in wave D of the expected triangle consolidation. This means a rally towards 122.40 should be seen before a decline in wave E to complete the triangle consolidation for the final rally higher to 126.54.
R3: 122.83
R2: 121.84
R1: 120.45
Pivot: 119.40
S1: 119.00
S2: 118.47
S3: 118.19
Trading recommendation:
We are looking for a buying opportunity at 118.75 or upon a break above 119.85.
