04-HOUR CHART
30-MINUTE CHART
(CLICK ON THE CHART TO ENLARGE IT)Honestly, it´s very hard to say. Dailies want to start a correction of the huge bearish move last week: EMA´s formed the Perfect Order; Parabolic is all the way up and; fast 6EMA is also far away from close price. But class C bullish divergence on RSI doesn´t favour a big bullish correction.
Now, moving up to my Elliot Wave counting, check the attached 04-Hour chart. Prices retraced 38% of 3rd wave and are falling down south. Also check fibonacci fan yellow lines drawn on the 3rd wave. It´s working very well as resistance.
Take a look now at the attached 30-minute chart for a big picture of the 3rd and 4th waves (4th wave on the 04-hour chart being the A - B - C waves of the 30-minute one).
Points: Short break 154.25 with very tight stop. If bearish trend resumes, add lots at break of 153,25, 152,50 and specially at break of 151,75. Main target: 149,30
