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The first resistance is identified as the 100 percent projection level of a downward wave (c) while the second as the
50 percent retracement of the uptrend from $6,733 to $7,253.
A small double-bottom forming around $6,856 suggests a target around $7,054. This pattern signals a completion of the downtrend from $7,193.
A correction may be limited to a support at $6,885. Such a correction is unlikely to occur as the metal has failed twice to break the support at $6,856.
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