Wave 3 lower within a 5 wave bear cycle from 107.84 is most likely underway now. The bearish bias is strong as long as price is below 100.15. Within wave 3, a small wave i is complete at 94.36 and wave ii is underway now. A potential terminus for the corrective advance from 94.36 is 97.94 (61.8% of 100.15-94.36). Look for a top and reversal near there. The initial bearish target is not until close to 85.00.
