Price has just completed an ABCD pattern which coniceded
with the SMA200. Minimum target of the pattern is the 38,2 Fib
of the whole pattern at 112,25 which is in perfect alignment
with the yet untraded Monthly Pivot Point and just shy of the
Yearly Pivot point.
Long trades can be entered after buy signals on lower time frames.
If we see a daily close below 108,30 opens up for a move toward
the 1,272 D extension at 106.35
with the SMA200. Minimum target of the pattern is the 38,2 Fib
of the whole pattern at 112,25 which is in perfect alignment
with the yet untraded Monthly Pivot Point and just shy of the
Yearly Pivot point.
Long trades can be entered after buy signals on lower time frames.
If we see a daily close below 108,30 opens up for a move toward
the 1,272 D extension at 106.35