Good afternoon from CFT (our video is out!),
The same triangle we have been showing. We talked about the “X” wave ending there at around $37,300. We think that is an important level for the bullish case, and we are still looking for higher. Our indicators we had mentioned were friendly last week; now they are overbought, so we could back and fill here, but we are going to look for higher.
we talked about the wave 4 ending; we talked about maybe we could spring the low…that did happen Monday, then a strong rally off of there. We are still looking for higher as shown by the green wave 4 ending, and a wave 5 to new highs incoming.
Russia invasion news has kept the Dollar firm; we still want to be short.
Could possibly still get above 99.50 briefly, but if not, we’re bearish.
We talked about a buying climax, automatic reaction, secondary test. We look for sideways and a point to buy the metals on a little bit lower.