Index has shown a perfectly symmetrical pace up in both
legs of the minor ABCD and has cut through the D-point
without much hesitation. Which major resistance level can
be seen using harmonic patterns and fibs? Both these
ABCD patterns points to the same exact level, which is 1978.
That is the 161 extended D-point of larger pattern and also
the 127 extended D-point of the minor or latter ABCD. Such
perfect confluence would very likely cause index to halt.
It is unlikely that index will leave such a big level behind
(and the close by level 2000 of course). a bounce from current
level should find support around 1785 (also monthly pivot S1)
and 1700. Above that Monthly Pivot Point at 1822.
legs of the minor ABCD and has cut through the D-point
without much hesitation. Which major resistance level can
be seen using harmonic patterns and fibs? Both these
ABCD patterns points to the same exact level, which is 1978.
That is the 161 extended D-point of larger pattern and also
the 127 extended D-point of the minor or latter ABCD. Such
perfect confluence would very likely cause index to halt.
It is unlikely that index will leave such a big level behind
(and the close by level 2000 of course). a bounce from current
level should find support around 1785 (also monthly pivot S1)
and 1700. Above that Monthly Pivot Point at 1822.