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Tuesday, July 31, 2007

Bottomed, HIGHER

















In my analysis 1.3726 is the retracement area for wave (ii).It will be my pleasure if the next movement is wave iii. Already use fibonacci retracement and what i get is 4 entry point level 23.6,38.2,50% and 61.8. I believe this is retracement and not reversal.The rally from 1.3608 certainly looks impulsive. Given the three-wave corrective fall into that low I would view any setback as an opportunity against the low.

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