As predicted we got rebound @47.4 ~.61 fib.
Short term outlook is harmonic Gartley. Black arrows.
The rise from 47 was somewhat low volume which indicates potential short term reversal taking into account the very probable Syria scenario for Saturday. I expect a short term reversal @the top blue line channel between 54-57. If this happens we get the harmonic play with rebound @ 42.8 and then we will go long for the longer term.
If we pass the blue channel 57-58+ this scenario is invalidated and we go long without rebound.
Long term outllook is bullish targets are at our previous idea.
Short term outlook is harmonic Gartley. Black arrows.
The rise from 47 was somewhat low volume which indicates potential short term reversal taking into account the very probable Syria scenario for Saturday. I expect a short term reversal @the top blue line channel between 54-57. If this happens we get the harmonic play with rebound @ 42.8 and then we will go long for the longer term.
If we pass the blue channel 57-58+ this scenario is invalidated and we go long without rebound.
Long term outllook is bullish targets are at our previous idea.
