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Tuesday, 17 December 2013

SP500 H4

General Overview for 17/12/2013:
The simple corrective cycle of (a)(b)(c) Irregular Flat wave 4 has been terminated into 161%Fibo Ext @ 1754 points and impulsive wave progression to the upside has been initiated. Wave (i) of this progression has been done and now price is in corrective cycle. More upside is in view as long as 1754 is not broken. First target is 1824 WR2 level.



Support/Resistance:
1824 - WR2
1812 - Swing High
1791 - WR1
1786 - Intraday Resistance
1778 - Weekly Pivot
1754 - Intraday Low | Invalidation Line |
1745 - WS1
1722 - WS2
1726 - 1735 - SUPPLY BREAKTHROUGH ZONE

Trading Recommendations:
As long as 1754 holds long positions should be in play with 1824 as a first target.

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