We have seen a small five wave decline from the 102.65 x-wave high and I expect resistance in the 102.39 - 102.46 area will protect the upside for a break below minor support at 102.05 and more importantly a break break below support at 101.97, that confirms that red wave iii lower is developing for a decline towards at least 101.27.
The larger picture shows, that we have a five wave rally in place from the 75.56 low and I'm looking for a correction towards at least 98.48 and ideally lower towards the 38.2% corrective target at 94.20.
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