elliott wave and fibonacci price targets ..., page-26

Hmmm ... I like to follow up variously with charts to review the validity of an analysis and to provide a continuum of subsequent action which hopefully will have been translated into $$$.

The original EW analysis was done in Nov08 where the Corrective Wave C price target was given as 3049 along with workings for information and would form the bottom for a positive reversal and next leg up.

The weakening price action was subsequently confirmed and by end Mar08 price had reached a low of 3120 and within 71 points of our projected target triggering the positive reversal and the LONG entry. Price has subsequently rebounded strongly to a high of 4079 before easing on profit taking and negative sentiment.

Note the consolidation around 3500 level at Fib(161.8%) retracement of 2006 low.




Cheers ... tight stops.


This is only my view ... read the black stuff.