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These supports are identified respectively as the 38.2 percent and the 50 percent Fibonacci projection levels of a downward wave C, the third wave of a presumed three-wave cycle from the June 30 high of 21.22 cents. This wave is capable of traveling to 19.39 cents.
The bounce caused by the 19.98 cents level could end around a resistance at 20.35 cents. A rise to 20.40 cents could be extended to 20.57 cents.