“The Elliott wave count on the 240 minute chart is suggesting a retracement to 112.65/110.90.”
“Key support is the 110.67 August 2008 high and the accelerated uptrend at 110.74 – while this holds pressure remains on the topside.“
“Above 116.10, we have a resistance line 116.37 (connects highs from 2011), then there is very little until the 117.95 Oct 2007 high.”
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