Details - Wave E of the triangle could have completed or might take one more rally into 2051-2057 supply zone. A breakdown below 2008 should confirm the start of blue wave Y which could see the price off to 1985-1975 key zone. However, a surge above 2044 suggests wave (E) might correct higher into the supply zone mentioned. However, the entire Triangle structure becomes invalid above 2065.

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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