Since the 82.49 high a zig-zag correction is developing. This correction is not only correcting the rally from 43.04, but the entire rally from the 7.06 low in November 2008. This will call for a prolonged correction both time and price wise. However, for now we have reached the 38.2% corrective target of the rally from 43.04 to 82.49, but after a minor rally towards the 73.31 - 74.54 area I will be looking for renewed downside pressure towards at least 63.73 and likely even lower towards 57.08.
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