Elliott waves analysis – We are buyers towards 136.70.


Wave Analysis:

During the previous trading days, the price rallied from the upper trendline at the corrective wave cycle three towards the lower trendline at the impulsive wave cycle four. As at now the price is on the lower trendline, I expect a bullish momentum from 135.11 towards 136.70 in continuation of the impulsive wave cycle five. However, should the price break below the lower trendline then 134.95 would be a good place to pick a sell from but as of now we are buyers.

Trade Recommendations:

We are buyers towards 136.70.

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