Recent commentary has stated that “we are looking for a spike through 105.70 in order to complete the entire rally from 95.72.
A push through 105.70 would be wave Z from 102.57 in what is a triple combination correction (W-X-Y-X-Z).” The spike through 105.70 yesterday satisfies minimum expectations for wave Z so it is possible that a top is in place at 105.86. A push through 105.86 would likely test resistance from a former congestion zone in the 106.00/65 zone.
