My long term target at 16.450 has been tested and slightly exceeded. As long as support at 16,221 protects the downside we could see an extension higher towards 16,820, but no matter whether we will see an extension or not an important long term top should be imminent and wave E of the major expanded triangle ready to take over.
The strong rally above 1.3750 and more importantly the strong break above the channel resistance-line is of concern, but only a break above 1.3811 will invalidate the above count and only a break above 1.3832 will indicate, that wave E of the major triangle hasn't terminated yet and more upside towards 1.4247 is needed.
Is currently testing very strong triple resistance near 3.45. I don't think this resistance will be broken and will be looking for renewed downside pressure for a break below 3.12 for a continuation lower towards at least 2.64.
Thank you very much for your work, your analyses help me a lot.
ReplyDeleteIf it is possible, I would like to know your point o view about North American Palladium Ltd (PAL:xase) ?
Thank you
Bye
Eric
Hi Eric,
DeleteI have made an update on my blog of what I expect is in store for PAL in the months ahead.
Hope it helps you.
Kind regards
EWS
Thank you very much EWS.
DeleteHave a good day.
Eric.