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Price is playing out as analyzed last week. price almost touched the bullish POI at 6.59 and has reacted slightly. My expectations are unchanged which is to take the lows at 5.96.
Price is currently on a downtrend. I was expecting a spring to be made here according to the Wyckoff accumulation schematic. This idea has been invalidated. Right now, we should be looking at a continuation lower after a bullish retracement to mitigate the bearish POI at 12.86.
Price bounced off nicely off the bearish POI at 43.64 as per my last analysis. From here, I’m expecting price to continue lower at least to the lows at 38.06.
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