Against the bottom of the structure and the 200sma as support. Other comments on the chart
Comment:
Nothing to report here. Price is still holding above the 200sma despite the move up in stocks. By the way if you noticed that there was lower volume and sometimes some lackluster movement today it is because Europe is on holiday today
Comment:
Lower support and 200sma is still holding so idea is still in play
Comment:
Price moved up today (clearing local resistance) away from the support area and the 200sma. This upmove might be gaining traction...
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This idea was published when price was 1314 price is got to 1325 before the pullback to 1318 where we are at now. If we get more weakness in the $ price could go up still
Comment:
This idea categorically failed. Failed in style. However it looks like there is a clean 5 waves down on the chart so please expect another idea