The zone was formed by the 61.8 percent Fibonacci projection level of a wave "C" and the 50 percent Fibonacci retracement on the fall from $1,813.60 to $1,534.49. It is so strong that it produced a premature wave "C", which is supposed to travel to $1,725, the 100 percent projection level.

A fall below $1,582 will extend to $1,534.49.

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