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Looking at the June contract I also see prices setting up
for a nice move higher.
Prices currently at wave B (or 2) and are sitting at the .786 ret level.
Following the general rule that after a 5 wave sequence is complete it
"should" be followed by a correction greater in time & price than
any corrective move within that 5 wave sequence I arrive at Feb 20
as the earliest date that this should complete.
Using the entire 5 wave sequence I arrive at another target zone
of Mar 9 to April 16 with the expected price target being the
100% level at 70.70.
Oscillators are showing springboard or hidden divergence between
the wave (5) low and the current low at wave B.
Good trading !
Alan
ps: This is just my opinion of course......
and please send any replies or comments to the list and not to me :)
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