böyle bi grafik buldum sp ustası sn jelibonun izniyle
DAILY 0614
Posted on 15 June, 2012 by admin
Greek elections are finally upon us and central bankers are ready to intervene next Monday if needed.
I have no idea of what price is doing in the immediate time frame, but I remain confident the price has not completed a Zig Zag from the June 4 low.
Therefore there is a pending wave (c) up, with an “assigned” target range = 1344 – 1363 and two potential “stopping points” either at the 50 d MA or an unfilled gap at 1353.39
Since In my opinion we are dealing with a countertrend wave (B) rebound there is no “assurance” of where it will top.
As long as we don’t see a deterioration of market momentum & breadth indicators, the trend is now unquestionably up.
Once an impulsive or ending diagonal wave (c) up can be detected then we should be able to have a better clue regarding the potential upside left.
The immediate pivot support remains at the 10 d MA = 1307.
If it is breached price will most likely retest the 200 d MA = 1291
The Immediate resistance remains at 1335.52
If it is broken then the door will be opened for a move towards the mentioned target box.
Momentum indicators have reversed yesterday´s bearish warnings:
RSI has moved above the 50 line
Stochastic has not issued a sell signal but it is entering the overbought zone.
MACD buy signal triggered on June 6 remains in force.
The McClellan Oscillator remains bullish friendly, maybe preparing a thrust higher out of a triangle pattern.
In the weekly chart below I have my “road map”:
This is a wave (B) countertrend rebound that should top somewhere below/at 1359
Once the wave (B) is in place I expect a wave (C) down with a potential target at the Trend Line support off the March 2009 low.
So far the weekly candlestick is a Spinning Top. It is not a bullish candlestick; it is a consequence of market indecision

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