We are currently in a wave correction after we saw wave 1 end at 1,074.77. I do expect, that wave 2 will rally towards the 50% retracement target at 1,223.57, from where wave 3 down should begin.Looking at the bigger picture, we might be building the right shoulder of a very big Shoulder/Head/Shoulder top, which if correct and activated will give us a target near 760, while wave 3 at 745 will be 1.618 times longer than wave 1.
Short term look for a minor decline towards 1,120 and then higher towards the 1,223 area.
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