General overview for 20/07/2016:
As the level of 116.41 is providing good support for the price, it has been tested two times already. Another lower high had been made in this market as well, so now wave c should be currently unfolding, and a choppy wave development is expected during this cycle. The key level to the downside is a technical support at the level of 114.75.
Support/Resistance:
122.91 - WR2
122.67 - Technical Resistance
120.11 - WR1
118.40 - Intraday Resistance
116.41 - Intraday Support
115.54 - Weekly Pivot
114.75 - Technical Support
112.85 - WS1
110.83 - Technical Support
Trading recommendations:
Due to the unclear outlook, investors should refrain from trading and wait for a better trading setup to occur shortly.
