Click on Image to Enlarge
Previous forecast wave count indicated a move higher up to $539 (Gann) or $540 (Fib Ext). The price support held and the GSCI rallied to a high of 548.88 only to close the week of 1/03/10 out at 543.22
The following week of 1/10/10 price hit a high of 550.37 then sold off to close the week out at 520.37
Wave count indicates wave v of (5) completed. Following this completion price returns to the place were wave 4 ended. The downside targets include $450 and between $419-$423. These lower targets should be met with considerable ease if price can break below the crucial support level of $472.
No comments:
Post a Comment