Here is the weekly ABCD long term swing...Since the 86% FIB retracement formed a strong level of resistance price has since dropped through the floor heading towards several major levels of support.
Firstly, the B low will act as a substantial support level; followed by the pivot yearly low of 2010; finally, settling at the 118% D extension target, which adds confluence to the 2005 yearly low.
This is just an insight of my thoughts, but my opinion (and feelings) are the Bulls are poised to correct the price for the first part of 2015.
Firstly, the B low will act as a substantial support level; followed by the pivot yearly low of 2010; finally, settling at the 118% D extension target, which adds confluence to the 2005 yearly low.
This is just an insight of my thoughts, but my opinion (and feelings) are the Bulls are poised to correct the price for the first part of 2015.