Long Term chart from early May '11:
Medium Term chart from late May '11:
The sharp wave 4 correction appears to be complete as a sharp double zig-zag abc-x-abc. Now the anticipation is to see a 5 wave impulse move higher from that point.
Today's Update:
So far only a 3 wave move up to challenge the key resistive orange trend-line is observed. The bullish preference would be to see a small 3 wave consolidation for wave ii of {iii} keep above the Support/Resistance(S/R) level at 4.20 to 4.25, then a thrust higher as a Point of Recognition (PoR) iii of (breach the orange trend-line to test the previous highs above 4.60.
BREAKING NEWS! The key resistive orange trend-line was just breached a few hours ago.
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