Key short-term pivot has now moved lower to 3.22, the wave ((x)) terminus. Expect resistance between 3.12 – 3.14 to cap for continuation lower.

Index has turned lower after completing wave B. A new low will complete a 5 wave decline from wave B high and add more conviction to this view. We should then see a (( b )) wave pullback toward 8100 – 8120 and lower again.

Expect 61.8 fib (2.096) to hold for another leg higher toward 2.36 to complete wave ( B ) before yields turn lower again. View is valid while price stays above 2.00%

Expect 61.8 fib (2.096) to hold for another leg higher toward 2.36 to complete wave ( B ) before yields turn lower again. View is valid while price stays above 2.00%

t Mid-term cycles in the commodity remain bullish. Shorter cycles are also bullish but while below today’s peak, we expect to see a pull back lower which should prove corrective and result in more upside. Support lies between 96.50 – 97.00

A cycle from 1.4819 has ended which means wave X low is most likely in place. Expect support between 1.4385 – 1.4409 to hold for continuation higher toward 1.4630 – 1.4670 region initially.