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The bullish momentum on Friday also confirmed an unfolding wave "3" towards $8.03, the 161.8 percent Fibonacci projection level based on the length of the wave "1", which rose from $7.06-1/4 to $7.48-3/4.
The upside could be extended a bit more to $8.11, the 161.8 percent Fibonacci projection of a wave (3) target, based on the length of the wave (1).
Retracement will be limited to $7.67.
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Copyright Reuters, 2011