Fast forward and this market has now reached a 1.618 multiple of w.a circle and near the previous w.(iv). This level and the market's position is interesting due to the fact that the ECB just promised investors the world but the wave pattern appears to be corrective in nature suggesting that bond purchases, while providing short term morphine during yesterday's session, will not provide any long term price stability.
Best of Trading
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Fair Disclosure Notice: I do not have a position in any of the aforementioned futures markets or securities related to this article.
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