SPX500 currently at 3rd wave of wave (3) (both 2.618% extended). Expecting a retrace at 6517 region for wave 4.
AIRASIA- failing to establish price above 50 M.A. May expect a correction to move upward. 0.730 good support price.
price to lower upto 0.215. Good buy price. Price to test 100.m.a at 0.280
Buy opportunity at 0.530. May expect the correction to test the 50 moving average.
May expect price go lower. Good support at 0.165 to buy.
Moving average cross overs at 1h time frame (MA 200 & MA 100) further hints at short opportunity. May expect movement towards 50% retracement.
The weeks ahead may see upwards direction, if steady support established at 61.8% (to move towards 112). Go short if open lower on Monday and may expect the sharp movements towards 106.622 50% retracement.
