[B]BIAS[/B]: Expect a pullback to 81.69-83 before higher to 83.01-36
[B]MAIN ANALYSIS[/B]: The direct break above 81.87 carried price through 82.23 and to the 82.64 level late on Friday. We should now see a pullback to the 81.69-83 area from where the rally should resume and back to around Friday's high, followed by a correction ahead of the move to the 83.01 target. I still feel that will probably hold but allow for 83.36.
[B]COUNTER ANALYSIS[/B]: Only directly above 82.70 would see the final move to the 83.01-36 area. Take care here as I still feel this is an important projection area. Above is also 83.55-88...
Only back below 81.60 would see the 81.32 corrective low and also the risk of a move right back to the 80.58-92 area.
For more information regarding the support & resistance and medium term outlook please see the attached PDF file.
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