However, our main scenario envisages a renewed test of the USD 4100 mark, at which point we expect this time to break through this level. As soon as the 4100 mark is reached sustainably (on a weekly-chart basis), we expect a direct rally to the USD 4900 – 5000 range.
We currently view price setbacks as minor consolidations in an intact upward trend. Only a drop below 3,400 USD would suggest a complete retracement to the breakout level at around 2,800 USD.
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