Daily Commentary and Analysis

Current daily trend has been down and all the indicators are showing the same direction. Short term indicators are also showing downtrend except current price is a little oversold.

Current near term support will be around 645 and resistance will be around 650. Short/Medium term support around 639 and resistance will at 653~654.

Current trend is bearish at the time of analysis. Key levels to watch are 650 as a resistance area and 645~643 as a support. Above 650 would signal a strength towards 655~659 area in medium term.

Possible downside target can be around 639 and upside target would be around 654 if near term support and resistance levels are taken out.

Thanks for listening

Good luck

DailyCom

p.s if you are interested in learning some analytical techniques for FREE, please visit Elliottwave page on my website.