If the recent upside stays below 23.40 I am favoring further weakness back under 22.55 to end a more complex corrective decline to correct the recent advance from 20.89 – 23.67. Overall the setup remains bullish whilst its above 20.89. So regardless if we see more downside or not, look to buy the pullback, stops need to be put at 20.89, a corrective decline in either 3 or 7 swings is a bullish setup and offers the bulls a change to jump back in. Ignore the news or sentiment, focus on what price does.
Stay bullish above 20.89.
Forecasting a rally
Forecasting a decline after a completed impulse wave.
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