Commentary:? Last week, we wrote that? "the decline from .7668 is clearly a 3 wave correction?so expect at least a test of the high prior to a larger setback that occurs over the next few weeks.?
With 5 waves already up from .6824, the decline from .7668 could be wave a of a larger correction, likely a flat.? b waves in flats often test the origin of wave a and it is not uncommon for the b wave to exceed the origin of a."? After briefly trading above .7668, price may be rolling over in wave c that should come under .7501.?? ?