I would look for 215.78 as the next target for GJ which is weekly R1. . .
Also, remember 2morrow is triple interest Wed. so the market may drive price thru the roof. . .
Lastly, the $ was very bullish going into the NY close and remains so at this point. . . UJ could see 107.75 by the end of the NY session if oil prices continue to fall which would drive GJ to its weekly target. . .
I would expect price to continue north to the weekly R1 @ 215.75 then retrace back to test support @ the 214 area. If it holds I would suspect we will see price hit the 50% fib from the fall started @ 241 to 192 @ 216.98/220 (on extension) before completing wave 4 of the 5 wave decline. . .
Interesting reading. . .
http://www.actionforex.com/technical...2008072253697/
Also, remember 2morrow is triple interest Wed. so the market may drive price thru the roof. . .
Lastly, the $ was very bullish going into the NY close and remains so at this point. . . UJ could see 107.75 by the end of the NY session if oil prices continue to fall which would drive GJ to its weekly target. . .
I would expect price to continue north to the weekly R1 @ 215.75 then retrace back to test support @ the 214 area. If it holds I would suspect we will see price hit the 50% fib from the fall started @ 241 to 192 @ 216.98/220 (on extension) before completing wave 4 of the 5 wave decline. . .
Interesting reading. . .
http://www.actionforex.com/technical...2008072253697/