Italy 30 May 2012

The angle of decent seems to be steepening! Look at the last monthly bar – this is typical of a wave 3. At such a steep decent I imagine some rest bite will occur at the intersection of the 4H and Weekly ML around the end of August.

However be extremely cautious as prices approach this area because often before the intersection of ML’s you get a rapid movement through to the other side. Closer to the time the subwave development will help to see what is most likely.

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