By Randolph Donney — May 01 - 03:50 PM
Big breakout above April's 135.14 EBS high toward March's 137.90 trend high
Prices set to close above 200-DMA at 137.01 for 1st time since Dec. 20 dive
Daily RSI is overbought, though not bearishly diverging thus far
The 137.90 high is by the 100% Fibo off the 129.645-133.75 March-April base
And the full 161.8% Fibo objective is at 140.39
That's very close to the A=C wave target off Jan & March lows at 140.33
Value bid by April's highs should March's highs trigger a correction
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Source:
Refinitiv IFR Research/Market Commentary