Joel, nice charts. Agree 100% with your analysis.
1.07 should hold or it will touch the 61.8% retracement.
For those that do not believe in technical analysis and the importance it can make when predicting future trends/price patterns, entry/exit points etc you are running a very high risk of losing your capital or not maximising your profits, (i.e. when do you know when to buy or sell?).
Often a problem with the faithful on the UMC thread.
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