Downtrend still unfolding and no sign of a reversal or basing pattern yet. Our wave count is calling this decline a sharp impulse that is extending which means that prices are just wrapping up a wave-3 of (3). S/t, a wave-(iv) bounce can carry to .8830/.8900 where channel and pivot resistance surfaces. More formidable resistance is .8927. A range bound consolidation from current levels can lead to another (wave-(v) of 3 of (3)) decline in the coming week or 2. Conviction: Med/High Levels: Support – .8764, .8730, .8660 Resistance – .8830, .8900, .8927
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