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The rebound has completed an "a-b-c" corrective cycle from $7,131 to $7,650, but the subsequent drop failed to break below a support at $7,371, the 61.8 percent Fibonacci retracement on the rise from $7,198 to $7,650. That indicates the corrective cycle has extended, with a big wave (c) pushing the price up to $7,689, the 61.8 percent Fibonacci projection level, based on the length of wave (a) and the wave (b) trough at $7,368. Only a fall below a support at $7,410 will temporarily violate the bullish outlook.