Comment by Peter jcp on July 22, 2012 at 8:12pm

Hi Roy - being a monthly chart and with us only being a week or so from the end of the month - it will be worth watching. You would not expect more than another 2 months of climb and if you then drill down to weekly and daily you might find some more resistance areas to look at.

I think there is some more left up unless we break significant supports below 83.00 and also I think from your oscillator in 2008/9 could allow for more up.Also it as been the longer up rally in terms of months - all points worth factoring into the decision making equation.

Regards

Peter

Comment by raj patel on July 22, 2012 at 8:51pm

Roy,

Your chart shows exhustion in the making except a swing top where the month has to close below the previous month that is not visble yet. retracement and swing high to blowoff the trend  and a close below by 200 pips is the confirmation that the range will follow till then the price will test rejection of the top for a month or so. Too early to call a top in my take

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