The failure to break below 1,1147.24 has given us one more spike into the ideal target zone, which should halt the ongoing correction for a new attemt to break below important support at 1,147.24. When that support breaks we should see a new decline to a new low below 1,065.79.
Short term we should see one more slight new high above 1,172.86 before the ending Diagonal is finished.
If the shown count is the rigth one, we can't go above 1,181.80. A break above that level will leave us with a overlap between wave 4 and wave 1, which is not allowed and will change the count to a finished wave 5 decline at 1,065.79 as wave 1 and the ongoing correction will then be wave 2.
If the shown count is the rigth one, we can't go above 1,181.80. A break above that level will leave us with a overlap between wave 4 and wave 1, which is not allowed and will change the count to a finished wave 5 decline at 1,065.79 as wave 1 and the ongoing correction will then be wave 2.
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