As price comes closer to the top, things are clearing up, inside wave Y there are now 2 equal legs. This top is still close to the 100% fibonacci extension of wave W. Inside wave Y of Y, the same thing has happened. The fibonacci extension resistance zone has kept up and should continue to do so. To be sure the top is in the trendline should break, leaving us with a double top pattern.
Tuesday, January 31, 2012
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