Weekly
Chart Prepared by Jamie Saettele, CMT
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-Previous comments remain valid. “It was mentioned last update that “price has broken resistance and the push above resistance on the daily indicates an important behavior change. Look towards 1187-1207.” 1187 is the year open price and 1207 is the June high. We’re at the former level now. Given the fact that this rally initiated from a MAJOR long term support, expect a run at 1207 if not 1255 (long term bearish median line) before something on the other side materializes.”
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