The rebound that started at the Dec. 14 low of $1,955.75 has almost completed, as wave (c) briefly pierced above $2,059, the 100 percent Fibonacci projection level.

Chances are low for wave (c) to develop a length 1.618 times that of wave (a), as the final wave of wave (c), labelled wave "5", may only be able to push the price to the presumed wave "3" peak at $2,078.

A rise to $2,090 will be extended to $2,107, the 161.8 percent projection level.

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