Elliott waves analysis – We’re waiting for sell positions from 138.230 towards 129.050.

Just as previously forecasted, the corrective wave (b) continues to rally much higher. We’re waiting for a rebound from 138.280, to pick a possible long term sell positions. If the price rebounds from this zone, then this will be a good place to consider a possible long term sell positions. The anticipated bearish price rally is the continuation of the last impulsive wave (c) to the lowerside towards 126.05 and may likely continue much lower. This view can only be invalidated in case the price breaks and close above 139 towards 140 or even higher.

We’re waiting for sell positions from 138.230 towards 129.050.