We are close to a important decision point. I will be looking for a decline through support at 96.35 and more importantly a break below support at 95.22 confirming a continuation lower in wave iii towards at least 92.78 and possibly even lower. The ideal target for wave 5 is at 88.53.
However, should we see a clear break above resistance at 97.80 we should expect a move higher towards 100.76, but more importantly it will indicate that an important bottom already is in place.
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