 | | Classical Outlook: Very tough to call with compelling cases on both sides here. Bulls make a case for continued recovery from the historic lows set in early 2009, with a higher low now by 146.80 ahead of the next upside beyond 162.60. Bears can argue that we have broken the rising channel support off of the 2009 lows, with the latest rally expected to stall ahead of 162.60 and set up 1-2-3 top formation. We are sidelined. | | Elliott Wave Outlook: Very tough to call with compelling cases on both sides here. Bulls make a case for continued recovery from the historic lows set in early 2009, with a higher low now by 146.80 ahead of the next upside beyond 162.60. Bears can argue that we have broken the rising channel support off of the 2009 lows, with the latest rally expected to stall ahead of 162.60 and set up 1-2-3 top formation. We are sidelined. | |
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