During the previous trading day, the corrective wave iv ended a bit earlier than expected and could not go below 112.35. As long as the price remains above this level, we expect a possible momentum to the upperside. Ideally, we expect the rebound from 112 to have marked an end to the corrective wave (iv), that the current rally to the upperside is the unfolding of the impulsive wave v and should break above 113.25 towards 114.00 or even higher to 118.00.
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