Price action that began mid-November has an impulsive look, which leads me to consider that the drop from the last 3 months is a zig-zag correction (black ABC).
Zig-zags have 100% extensions as high probability targets, which would take us down to at least 0.6267.
My primary wave count considers that re are currently in the middle of light blue wave 3, and expect further downside soon.
Zig-zags have 100% extensions as high probability targets, which would take us down to at least 0.6267.
My primary wave count considers that re are currently in the middle of light blue wave 3, and expect further downside soon.
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