We have finally broken out of this long term consolidation, as we have seen a move above 99.21 and more importantly a break above 100.43, which calls for a rally to the next major resistance at 110.56. However we will likely see a rally to at least 117.15 and more likely higher towards 126.78 before this C-wave is over.
At no point should we see a decline below 92.74 and more importantly below 91.05 as that would invalidate any further upside and call for a massive decline instead.
As to how much time it will sustained above 100.43 as this price does not suit any economy, particularly India.
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