Buyers in control | 13 April 2018

Wave Analysis

Perfectly as previously forecasted, the impulsive wave (c) extended slightly higher than expected and even close above the hourly resistance level 460.35. As long as the price remains above the same level, we expect a possible momentum to the upper side with our target being 618.17. A break above this target will push the price further to the upper side with the next target being 877.70. This vie can only be invalidated in case the price end up breaking below the short term support level 460.15, this being the case, we'll expect a rally to the lower side 359.57.

Trade Recommendation.

Wait for a pullback towards 460.35 to pick a long position towards 616.37