General overview for 24/02/2016:
The bottom for the B blue wave might be in place, but, as in the previous attempts, this one is still not confirmed. The market is still trading in bearish zone and the whole structure evolves into more complex and time consuming correction even on longer time frames. The current ABC blue labeling may not be the last one as further corrective sub-waves are still expected.
Support/Resistance:
122.70 - WS2
123.03 - Intraday Support
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.