Wednesday, October 13, 2010

EW wants one more high

There are a lot of signs that the trend is ready to reverse. The resistance, like noted in my previous post, seems to hold for now. A small trendline was broken to the downside. And there was a lower low, which is something that didn't happen since wave Y started. However, the EW-pattern does not seem finished yet... A last wave 5 of C of Y should take price to a small new high. After this, the new downtrend should begin.

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