Since then it dipped to about $60 before bouncing. Longs have to take a stand here or the current wave will fall below the peak of wave 1 meaning this is not wave 4 and likely then something significantly more dire.
This is a pivotal time for the markets. If this keeps falling, EWI's big picture model becomes more likely. If this bounces here then Avi's much more bullish model takes the top spot. At this point with metal miners and energy sectors so near likely strong rebounds I would favor going long those instead of short anything.
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