Now that resistance at 1.3346 was broken and closed above, upside milestones on the way to target remain the fib levels. Currently we have sped thru the 50.0 fib en route to the 61.8 at 1.36274.
Ideally the target of this current leg would be the AB = CD at 1.37109 , the zone inbetween the 61.8 and 70.7 fib retracement points after the previous lower leg finished inbetween the 141.4 and 161.8 fib extensions.
Also coming in around that level is the Daily 200 Sma.
Saturday, 25 February 2012
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