We can remove 2 of the alternate scenarios with a rally above 102.36 this week; at the point the large wave-[4] triangle will take precedence. The target for wave-D (orange) on a break of 102.36 is a range between 102.90/103.30. Today’s break above down channel resistance warrants the promotion of this idea. (daily) S/t, prices are butting up against range highs at 102.14. A break of 102.14 will set up a challenge of the recent pivot highs and .618 extension at 102.24/36. A full symmetry extension to channel resistance projects to 102.75. (hourly) Conviction: Med Levels: Support – 101.94, 101.79, 101.48 Resistance – 102.14, 102.24/36, 102.75
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