We were looking for a rally to 102.86 Friday but our call for a subsequent decline has been invalidated with the strong push higher. The move to 103.23 has touched the upper boundary of a 3-month triangle and could mark the end of wave-(d) of the bullish coil. A multi-day correction lower would satisfy the final leg. (daily) S/t, the hourly chart shows a 5-wave rally from 101.72 that ended with typical momentum divergence. This divergence, at channel resistance, can mark the top of the 3-wave rally. A break of the recent consolidation between 102.98/80 is expected and this can confirm that a more robust turn lower is underway. (hourly) Conviction: Med Levels: Support – 102.98, 102.80, 102.65 Resistance – 103.43, 103.76, 104.84
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