With wave (E) complete at 124.59 and a S/H/S bottom to confirm that view, we will be looking for more upside pressure in the days and weeks to come for a rally towards 135.72, which both marks the 161.8% extension of wave i and the S/H/S bottoms target.
Short-term, we could see minor resistance at 131.63 caps the upside for a corrective set-back to near 130.10 before the next upside attack towards 133.48 on the way higher towards 135.72 as the ideal target for wave iii.
R3: 132.54
R2: 132.11
R1: 131.63
Pivot: 131.24
S1: 131.08
S2: 130.76
S3: 130,34
Trading recommendation:
We will wait for a buying opportunity near 130.10.
