General overview for 11/03/2016:
As anticipated yesterday, the wave 3 purple to the upside had been made in an impulsive fashion. Currently, the market is in sub-corrective cycle and when it is completed, another rally upwards is anticipated. The targets for wave 5 are around the level of 128.00. Only a sustained breakout below the level of 124.91 would invalidate the bullish scenario.
Support/Resistance:
127.99 - WR2
126.90 - WR1
125.56 - Intraday Support
124.48 - Weekly Pivot
123.41 - WS1
122.06 - Swing Low
Trading recommendations:
Yesterday's buy orders has been closed with massive profits. For those of traders who decided to keep buy orders open, the next TP is seen at the level of 128.00.