There was another leg on this corrective wave. Im not certain if this last wave up is impulsive (5) or corrective (3), but i'm expecting resistance at the 100% fib extention. There are alternatives like this high being a top of the first part of a bigger corrective wave X. It could even go to above 1.4939 in the form of a wave Z. We'll have to wait to see how the market reacts to the news out of europe.
Thursday, July 21, 2011
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