Sorry I didn't update yesterday, but I had Computer problems, but they should be fixed now.The decline below 140.46 has once again put the possible bullish count under threat. As long as possible wave iv does break into the territory of wave i at 138.61, the bullish count could still be valid. As can be seen on the hourly chart below the last decline is followed by a very clear divergence on the MACD-Indicator, which could be a warning that a bottom is close at hand. To really get things going for the bullish scenario a break above the minor top at 143.45 is needed.
A break below 138.61 will kill the bullish count and favor that the entire rally from 118.75 was a double zig-zag and call for a much deeper decline. Before that decline we should see a rally higher towards 143.45 first thus.
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