Attached you will see a chart showing 5 completed waves down from 5544. This counts as wave 1. A rally to 5500 (wave 2) was what we were expecting yesterday as long as 5360 held. Although we saw a few dips below this level (5360) there was no follow through. This is the second occasion we have seen a false break below this level. If we see a 3rd attempt I expect prices to break through with force and this would confirm wave 3 down has begun.
What is not clear this morning is whether wave 2 up has completed. Given the pattern I expect to see higher prices. Learn what Mark is looking for and signup to the service through this link here.
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