This is a textbook case of an Elliott Wave trade setup coming to fruition!
I'm Short Term Bullish... LOOK at the Chart!
I am just amazed every time the Elliott Wave Principle works to the tee especially in a real time situation like this chart I composed Today. The Elliott Wave Principle must be added to your logical thought process of when to buy and sell stocks/commodities, and this chart further proves my point.
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Click on ANY of the links for Elliott Wave International, get the FREE Club EWI account, and start redefining the way you think about trading and investing in stocks, commodities, and foreign exchange. Robert Prechter and the whole team at Elliott Wave International are expert market forecasters. You need to see why the Elliott Wave Principle is necessary for your finances; learn to think and act against the crowd... with The Elliott Wave Principle.
Here is another article that will stimulate the contrarian in you....The Top 10 Market Myths Expose.