motleifaul

We are testing the daily support again and may expect another retracement at least. At moment I don't expect much more as we are in a range. Only if it braeks out we can see more.

It is a short term rising support and to confirm it we need to overcome the horizontal resistance, but the fact that we touched the support three times and the closed above it may serve as a signt that the rate is willing to try a rise again to continue the trend. And , by the way, the 38 % Fibonacci level of the uptrend has been retraced.

The rise since May has been retraced now and may continue.

The August rise has been retraced while the support holds.

The fall below the 52 MA indivates a further drop in the price.

This became a cross resistance now and I expect a further drop of the index. But always remember: Be back in September. :-)

May be we will trade in a range for a while but at least we may see a test of the downside now.

The downtrend has retraced and is no back in its original direction.

The breakthrough indicates a further rise to test the monthly resistance.

As the weekly resistance could not be overcome and the last day of past week ended lower, we can assume that we will see a fullscale retracement of the previous upmove. The more that the xpected high has been met exactly.

The price reached a new weekly high and the indicators support a continuing trend.

A retracement is due.

A retracement is due.

At this short term support it is worth to bet on an attempt to continue the uptrend.

We are in a consistent downtrend. Now we have retraced 38 % of yesterday's rise which is a good chance to jump on.

The price is ripe for a downward correction and as we are stopping at this resistance line there is a good chance that this may start now.

As there is a support in the 4-h-chart I am turning the positition into long (see below).

There is a new chance for higher rates as we have retraced 50 % of the former rise now.