As long as the support at 77.37 protects the downside, my most bullish count is still valid. With that said the decline from 78.44 has a clear five wave look, which would call for a three wave correction and then one more decline in a simple zig-zag correction. Therefore if 77.44 is broken to the downside, then the best count becomes, that black circle wave 1 (not shown) is the best count.
A break below 77.44 would call for a decline to at least 76.90, but more like to the 76.30 area, before black circle wave 3 up set in.
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