General overview for 27/05/2015: The impulsive moving ridge evolution to the upside does non completed yet every bit in that location is even as well as hence a corrective moving ridge iv as well as ane to a greater extent than moving ridge v missing to consummate the overall structure. The orangish rectangle represents a projected target zone for moving ridge iii. The almost of import back upwards for the bulls is at the degree of 123.31, because whatever intermission out lower volition opened upwards the possibility of a larger corrective wheel downwards to the degree of 122.02. Nevertheless, the bias is bullish as well as this duet should meet to a greater extent than gains. Only a sustained intermission seat below the degree of 120.50 would invalidate this view.
Support/Resistance: 124.92 - WR3
124.12 - 123.92 Projected Target Zone
123.31 - Intraday Support
123.25 - WR2
122.68 - WR1
122.02 - Technical Support
Trading recommendations: All bulls should see closing a role (or full) of their seat into the orangish rectangle expanse every bit the immediate corrective wheel is coming. Buying the dips inward moving ridge iv is the agency to merchandise this marketplace inward anticipation of moving ridge v to the upside.
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