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ADR index

2 Mar 2017 ‚óŹ 04:57 AM

The Bank of New York ADR index has been edging up slowly within wave E of a wedge like formation for months now. Price has still not touched the upper yellow trendline which is close to 135. We maybe forming a wedge near the end of wave E shown in blue and could be close to completion as well after one more push higher. All this also brings us close to the Oct 2015 swing high seen in the index.

adr-020317

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