Comment by Vitor Barbosa on October 19, 2012 at 10:44am

Already hit the red line & get rejected, lets see ......

Comment by Peter jcp on October 19, 2012 at 12:07pm

Hi Vitor - the 3020-3040 area is full of small supports that would need to be broken for further down or one of them hold for that bounce back up. First signs for me on my scalping side would be a retrace above 3055 and 3062, That price level may break the present sequence of LH's and LLs. Failing to make over these levels still means we can drop under 3035 - but even if we get down to the low 20's there is support there - which would then only need over 3047 to show a start of a turn.

Good Luck with any retraces back up if you are after a longer buy. i would need any scalp to stay over 3050 and 60 for me to then make more scalp buys and not to continue with so many scalp sells

Regards 

Peter

Comment by Romano on October 19, 2012 at 1:00pm

this should be last 5th wave in sequence to the upside and target should be I think 3150

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