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The range is formed by the 76.4 percent and the 61.8 percent Fibonacci projection levels of a downward wave c, the third wave of a three-wave cycle from the July 13 high of $4.51-3/4.
A break above $4.07-1/4 could lead to a gain to the 50 percent level at $4.12-1/2, while a break below $4.00-1/2 could cause a loss into the range of $3.90-$3.96, formed by the 100 percent and the 86.4 percent levels.
A wedge developing from July 5 is contracting to a point, signalling the downtrend from the June 8 high of $5.33-3/4 is ending and could be reversed very soon.