Tuesday, July 20, 2010
Make or Break the trend
Price needs to start rallying soon or both counts will be invalidated. The 2 red lines are the limits for the 2 counts, if price goes below the highest red line, the wave iv scenario is invalidated, if price goes beneath the other red line both counts are invalidated. The black lined channel is clear and a break of it could drive price lower quickly. One small observation is that price seems to find some support on the old green channel.
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