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Centering on the patterns unfolding, there is a prospect of a rally moving into Mon. 13th with the opposite trend thereafter into Wed. 15th.

Comment:

Consequently, this market has bounced from that low established on Wednesday February 8th for 5 days creating a reaction high at 1184804 on Wednesday February 15th failing to exceed the previous high. We elected the three Daily Bullish Reversals from that low at 1147978. From the reaction high at 1184804, we have not yet elected any Daily Bearish Reversals so support lies at 1162797.

Trade active:

We elected the three Daily Bullish Reversals from that low at 1147978. From the reaction high at 1184804, we have not yet elected any Daily Bearish Reversals so support lies at 1162797.

Comment:

Currently, we have not elected any Daily Bearish Reversals from this new high. The immediate Daily Bearish Reversal to watch lies at 1172837 but focus more on 1164512. A closing beneath this level will signal a temporary high is in place. Additionally, a closing beneath 1196602 would also imply a technical based pause in the uptrend for now. Technical projected resistance for tomorrow stands at 1214358. Only exceeding that level would imply a runaway breakout to the upside.

Trade active:

The immediate Weekly Bearish Reversal to watch lies at 1140481. A closing beneath this level will signal a temporary high is in place. Additionally, a closing beneath 1150883 would also imply a technical based pause in the uptrend for now. We have elected 4 Weekly Reversals from the reaction low of week of January 16th.

Comment:

The immediate Daily Bearish Reversal to watch lies at 1172837 but focus more on 1164512. Additionally, a closing beneath 1192588 would also imply a technical based pause in the uptrend for now.

Comment:

There is a likelihood of a decline moving into Mon. 27th with the opposite trend thereafter into Thu. 2nd.

Comment:

Centering on the patterns unfolding, there is a prospect of a decline moving into Mon. 6th with the opposite trend thereafter into Tue. 7th.

Trade active:

Currently, we have not elected any Daily Bearish Reversals from this new high of Thursday March 2nd. The immediate Daily Bearish Reversal to watch lies at 1172234 but focus more on 1169360. A closing beneath this level will signal a temporary high is in place. Additionally, 1204190 offers some technical overhead resistance for now. Moreover, our Daily Bullish Reversal to watch stands at 1238814 and it will require a daily closing above this level to signal new highs lie ahead. We need a daily closing above 1199883 to imply a further rally is unfolding technically speaking.

Comment:

WEEKLY LEVEL
Regarding the various factors, there is a strong potential of a rally moving into 3/27 with the opposite trend thereafter into the week of April 10th.
DAILY LEVEL
Regarding the various factors, there is a strong potential of a rally moving into Mon. 27th with the opposite trend thereafter into Tue. 28th.
We have elected three Daily Bearish Reversals from the high of Thursday March 16th. We need to focus on support at 1168490.

Trade active:

short opened on Friday 24/3/17 near end of the session
SL 12391
TP 10490