I had an request to update my post from January 11, 2014.
I continue to look for red wave c lower towards the 58.64 - 59.04 before red wave iv is in a position where a bottom could be found and renewed upside pressure could be expected for a rally above the former top at 69.22.
Red wave b looks like a triangle and confimrs that the decline from 69.22 is corrective in nature and should be followed by a new impulsive rally once this correction is over.
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