The above chart is for the cash market but the futures (below) are starting to look up as well. The left red arrow is the level of the prior 4th. The right arrow shows that the current bid is now above the level of the prior 4th which is one of the thing we want to look for in determining if there will be yet another wave down before the real bottom is in. If this move makes it into the cash market tomorrow then it will remove the chance that we are working on a 4th wave HT. Other 4th wave options exist but they dissipate rapidly if prices keep moving up from here.
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