ONDAS DE ELLIOT - MILK11 (23/08/2011)

AlphOmega Commentary

for

LAEP        DR3         on 23/08/2011

Open 0,75, Low 0,74, High 0,79, Close 0,75 Change -0,03

The present wave patterns are:

fast amplitude (8%): bearish wave 3

moderate amplitude (13%): bullish wave 2

normal amplitude (21%): bullish wave 1

slow amplitude (34%): bearish wave 2

LAEP        DR3         is long term Bearish as the 144 days moving average of 2,83 is decreasing. The Relative Strength Index is at 35,58 in the neutral territory. The Relative Momentum Index is at 19,29 in the oversold territory. An important indicator for Elliott waves, the Elliott oscillator is at -0,24, in negative territory; this is a bearish sign. An equally important indicator, the STORSI is at 85,41. This value is in the overbought territory.

Weekly Pivot Point Resistance and Support

The first weekly resistance level is at 0,86 while the second resistance level at  0,94. The first weekly support level is at 0,72 while the second support level is at 0,66.

Tomorrow's projected High: 0,77, the projected Low:0,72. The top 21-day Bollinger band is at: 1,12 while the bottom 21-day Bollinger band is at: 0,62.