Short term Elliottwave structure suggests cycle from 6/9 peak remains alive as a double three where wave W ended at 45.83 and bounce to 50.54 ended wave X. Wave Y lower is in progress with the internal as a double three where wave ((w)) ended at 46.7 and wave ((x)) bounce ended at 48.45. Near term, wave (x) bounce is in progress towards 47.14 – 47.84 area (50 – 76.4 retracement), and ideally stays below wave ((x)) at 48.45 for the next extension lower towards 43.3 – 44.75 area to end cycle from 6/9 peak.
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