Elliott Wave Technical Analysis ! Nepse, GOLD, OIL, Forex, Crypto Currency

Friday, November 2, 2012

Pivot: 86.25

Our preference: LONG positions above 86.25 with 86.8 & 87.4 in sight.

Alternative scenario: The downside penetration of 86.25 will call for 85.9 & 85.

Comment: the RSI has broken up its 30 level.

Pivot: 1714.00

Our preference: SHORT positions below 1714 with 1701 & 1698 in sight.

Alternative scenario:The upside breakout of 1714 will open the way to 1718 & 1722.

Comment: the RSI is below its neutrality area at 50%

Pivot: 32.40

Our preference: SHORT positions below 32.4 with 31.85 & 31.55 in sight.

Alternative scenario: The upside penetration of 32.4 will call for a rebound towards 32.65 & 32.85.

Comment: as long as 32.4 is resistance, lily decline to 32.85.

Pivot: 86.25

Our preference: LONG positions @ 86.6 with 87.5 & 88.15 in sight.

Alternative scenario: The downside penetration of 86.25 will call for 85 & 84.4.

Comment: supported by a rising trend line.

Pivot: 1718.00

Our preference: SHORT positions below 1718 with 1706 & 1701 in sight.

Alternative scenario: The upside penetration of 1718 will call for 1728 & 1735.

Comment: the RSI advocates for further downside.

Pivot: 3.53

Our preference: LONG positions above 3.525 with 3.57 & 3.59 in sight.

Alternative scenario: The downside breakout of 3.525 will open the way to 3.505 & 3.445.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Pivot: 32.40

Our preference: SHORT positions below 32.4 with 31.9 & 31.7 as next targets.

Alternative scenario: The upside penetration of 32.4 will call for a rebound towards 32.65 & 32.85.

Comment: the RSI calls for a new downleg.