Monday, February 7, 2011

On track

Price has started a decline late last week, even leaving a bearish candle on the weekly chart. However, i am not convinced that this is the start of a new trend, since i have this decline as a wave B. The size of this wave B could be small because of the former resistance now support zone. Should this support zone break, i would still be looking at this as a wave B but with a deeper target for wave B.

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