Today we hone in on the wave count from the end of the 5-month coil. This rally from 96.57 is expected to carry prices towards 104/106 in to next year. Since the strongest move in a rally is often the middle of the entire move we can extrapolate upside targets. For now, 100.75 is the proposed midpoint and suggests a rally to at least 105. Nearer-term, the midpoint suggests that wave-v of (iii) is slated to complete near 102.45; the wave-i=v target is also 102.45 and the 1.618 extension of wave-(i) is 102.65. Taken together we expect a thrust to 102.45/65 to complete wave-(iii) of 3 ahead of a minor correction. To confirm the current bull flag breakout look for a rally above 101.92. Key support is now 101.15 Levels: Support – 101.65, 101.15, 100.96 Resistance – 101.92, 102.45, 102.65
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