General overview for 23/02/2016:
The bears are in full control of this market as the last support level has been broken. The whole structure evolves into more complex and time consuming correction even on higher time frames. The current ABC blue labeling may not be the last one as further corrective sub-waves are still expected.
Support/Resistance:
123.59 - WS1
125.02 - Intraday Resistance
125.90 - Weekly Pivot
126.75 - WR1
128.27 - Technical Resistance
Trading recommendations:
Day traders should refrain from trading and wait for a better trading setup to occur in the near term.