The advance from 80.49 could be very close (if not already ended) to ending a large 3 wave rally to to correct the prior 5 wave decline from 89.06. Generally a 50% retracement or a test of the prior 4th wave of one lesser degrees is a good target zone for a correction. Whilst its now testing the prior 4th wave, its still got a couple of targets just above around 84.70 – 84.80 that could be tested before the upside has ended.

A strong reversal back below 83.50 would be the first decent clue to suggest the upside could have ended, further weakness under 82.50 would be a strong indication that the rally from 80.49 has likely ended.

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