The sideways action since the beginning of December is becoming an never ending story.The correction has become way to big to be a wave 4, so it's likely to be some kind of "X" wave. The is no impulse seen, but instead a lot of overlap rising the odds that this is some kind of correction.
I still think that we are looking at a double correction, which still could move higher towards the 134.90 area, before rolling over to the downside again. The last part of the rally should ideally follow the red dotted line, but lets see what develops from here.
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