As I have stated before, there was a good chance of higher levels by the end of this Summer. Well, as we all know the market has the mind of its own. So, several of my calls were deadly wrong.
Still I tend to believe that we are still going to see higher levels later this summer. This time I’d be more cautious though, and say that this will only be true in case we close above 900 before we drop to 870. So, if 870 holds then 900 is the next stop.
I would say, that chances of reching 895-900 pretty good and we a looking for a potential 20 point profit. Still, there is a risk (there always is) that this area will act as a strong resistance and price might reverse. At that point I would suggest to take money off the table and wait for some additional confirmation.
