The 11 AM London fix has buyers I guess (understatement). The trend continues higher to the next target. The Correction Zone (38.2-50% of the current surge) currently comes in at 1.2666-736 now. Stay above and the bulls remain in control of the trend (this moves with a new high – so adjust accordingly).
If the market gets really going, the 38.2% of the move down from the 2012 high to the low comes in at 1.2744. This was near the high from Monday.(at 1.2745 – see blue 2’s in the chart below).
