First Majestic: There it is!

There it is! First Majestic actually did it – it has advanced into our turquoise zone between $12.36 and $6.89. Now, things are getting interesting. As First Majestic has reached the middle of the turquoise zone and thus has tapped its ideal target point for wave 2 in turquoise, it could already start to move upwards, crossing the resistance at $19.41. However, there lurks a 45% chance that First Majestic could fail to turn and could fall through the turquoise zone instead. In that case, it could drop further below the support at $5.30.