The advance from the 2017 has enough gyrations to suggest a potentially completed impulse wave (5 wave advance). A strong move below 65.00 as well as an impulsive decline would be a good sign to support further weakness and suggest wave [5] had likely ended. A correction in 3 waves would be favored once any 5 wave advance has ended, so in this case of this idea, a move towards 55.00 – 50.00 would be a good target, from there the bulls can reevaluate the market and decide if any downside is completed.

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