It looks like we had a shortened daily cycle at 25 days. While there was a little run higher we still never broke the weekly downward trend line which currently has a low at week 14. This leads me to think we still have another week or two to put in a final bottom. A break below the 100mda would help confirm we are still searching for the low - a break about the 10mda would confirm the low is already in.
Target for low would be around 200mda- $550 price area
Penafian
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