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In my last posting regarding CME I noted the difficulty associated with determining a terminal price target. At the same time, evidence pointed towards an immediate decline towards $283 or $270. Price broke above my forecasted resistance level then began to oscillate within a $20 range for 15 trading days before finally breaking down towards the lower targeted levels. Naturally, since the analysis underestimated the high, it would overestimate the lower targets. This occurs because of the variability associated with measured price movements.
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