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The range is formed by the 23.6 percent and the 38.2 percent retracements of the downtrend from $7,253 to $6,777.
The bounce from $6,777 looks incomplete, it may consist of three waves.
The second wave labelled b may end in the range, to be then reversed by an upward wave c
A break below $6,889 could confirm an extension of the wave b towards $6,847, while a break above $6,959 could confirm the target at $7,015.
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