General overview for 30/08/2016:
The top of the wave (iii) has been established at the level of 114.67 and now the market is in the corrective cycle labeled as wave (iv). The most important level for the current Elliott wave count is the top of the wave (i) at 113.58. Any violation of this level would immediately invalidate the current wave development and cause a more complex and time-consuming corrective pattern to emerge.
Support/Resistance:
115.10 - WR2
114.67 - Intraday Resistance
114.73 - WR1
114.03 - Intraday Support
113.76 - Weekly Pivot
113.58 - Invalidation Level
113.37 - WS1
112.41 - WS2
Trading recommendations:
All buy orders recommended previous week should now move their SL to the level of 113.55 and leave TP still open. One more wave up is still being expected.
