Monday, 06 July 2015 16:02
These supports are provided respectively by the 76.4 percent and the 86.4 percent Fibonacci projection levels of the wave c, the third wave of a three-wave cycle that developed from the May 19 high of $ 1.4625.
It is highly likely that this wave will travel to $ 1.21, the 100 percent projection level, following its extension below $ 1.2870, the 61.8 percent level.
A bounce from the current level may be limited to $ 1.2870.
The views expressed are his own.
No information in this analysis should be considered as being business, financial or legal advice.
Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.
