Has we finally seen a firm top here at 72.71. My preferred count say yes, but we need a break below 58.95 to confirm the top and that a correction lower towards 45.13 is developing. Not only do we find the bottom of wave IV at 45.13, but it also marks the 50% corrective target of the rally from 17.55 to 72.71.
Short term I would like to see resistance at 66.62 protect the upside for a continuation of the downside pressure towards 59.38 and possibly even lower towards 53.30. To abort the downside pressure it will take a break above 59.69.
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