FLSMIDTH & CO. A/S

OMXCOP

FLS

Entry: Short on break of correction trend line. Context: Short-term bear channel within long-term symmetrical triangle. Ongoing drop towards triangle support.

Key level of support in trend-channel as well as previously known resistance that could act as support now. Important that it confirms reversal from downtrend before going in.

Two shark to 5-0 possibilities or a flat correction in a bigger AB=CD . Look for bullish lower TF setups for a ride to the largest shark if this smaller daily shark fails:

FLS completed the daily bearish 5-0 with a minor instant reaction. We've just had another test which resulted in a succesful bearish bat on the hourly time frame. See private chart below. Targets if 250 is taken out would be the potential bullish bat/leonardo close to the last bottom. In case of total break down I have marked som older lower targets. For now I...

Schiff Median, Nen Star, Action-Reaction, ABCD, 1.272 ABCD, 1.13 Fibonacci, Support from an old Channel, RSI below 30 and high Volume