Price has dropped perfectly to our profit target from last week. We turn bullish above major support at 1202.86 (Fibonacci projection, Fibonacci retracement, horizontal swing low support) and expect a push up from here towards 1231.91.
RSI (34) is seeing major bullish divergence vs price signalling a major reversal is approaching.
Stochastic (21,5,3) is seeing major support from 5.55% signalling a bounce is impending.
Buy above 1202.86. Stop loss at 1180.91. Take profit at 1231.91.
