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The cycle started at the Oct. 17 high of $1,694.60, with the wave "c" having approximately traveled the same length as the wave "a", as indicated by a Fibonacci projection analysis. A small inverted head-and-shoulders pattern has been confirmed, pointing to $1,650. No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.