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Scandex Market Update – May 4

Scandinavian Capital Markets

A flat is still possible. Thursday’s low would compose wave B. If this interpretation is correct then wave C should carry above 12593. The most likely spot for resistance remains the wave 4 and red parallel at 12692. Bottom line, USDOLLAR reacted at critical support (l0ng term magenta trendline) so focus is higher as long as price is above last week’s low.

Scandinavian Capital Markets Review

Source: https://scandex.com/2020/05/04/market-update-may-4/
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