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The bounce followed the completion of a small five-wave cycle from the Aug. 19 high of $3.44-1/4. Three waves will make up the bounce, with the third wave, labeled c, unfolding towards $3.39, the 23.6 percent Fibonacci retracement of the uptrend from the Aug. 12 low of $3.22-1/2 to $3.44-1/4.
A drop to $3.35 may extend to $3.33-1/4.