My focus remains on the longer term structure, especially the rally from .4890, which is a textbook zigzag. Waves A and C are equal (and price reversed at the 50% retracement of the decline from .8219), which is common. As mentioned in recent days, “the uneasy sentiment remains here since the recent decline is more corrective than impulsive.” A close below the support line shown above would bolster the bearish cause.
