Awaiting Great White signal
Awaiting market reversal confirmation
TG-High = 93.08 - 02 FEB 2014
TG-Low = 42.77 - 02 FEB 2014
Geo impact = Nodal core
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I decided to give as much time as possible for the chart to unwind, but as of this 5th week (5 candles) following a dead-on hit (see chart below), price as only moves closed to the target.
Indeed, this past February 02nd, I offered a bold forecast whereby price would not only hit the target it just did @ 93.08, but that it would probably reverse in quite a drastic way, so much so that I defined an abysmal lower target at 42.77 released on the same day of the primary target which just got hit.
I would look for continued resistance, and probably a decline followed by a retest of the target level if price was to indeed roll over towards the lower target. Being a weekly chart, I will keep an eye out for this target, but not until mid-summer.
Predictive Analysis & Forecasting