By: Dale Todd
Yesterday’s price action increases the chances of the MT up-cycle having completed at 92.14 (light green) with three channels-plus-extension. We fell short of the LT target, which would come in at 92.43 today, but it remains a possibility if a rally takes hold.
Support for this decline should be found around the 90.60 area, and if not there, the next major support is at 89.55.