A 6 month cycle down phase has probably begun, but it may not last too long. A low is due within a month and normal variances mean that the low could come at any time. A 4 week cycle low is also due at any time, while counts for the 13 week and 6-7 week cycles suggest that the down phase could last a week or more. Key support at 1348-60 has been broken, and on one chart there’s an air pocket to 1300. If the market does not firm up here, then that’s a likely target for this move, which would negate upside projections. But…
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