Tuesday, July 13, 2010

The bull wants to go higher

Price went over the top of the diagonal. This means the rally isn't done yet. Also, the daily candle closed above the falling trendline, which is bullish. I'm now counting the 5 wave rally from the wave B low as wave 1 of C. Wave 2 is very small but since we're at a new high, it should be complete. This would put us in wave 3 of C now, so expect surprises to the upside.

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