Commentary: The decline from .79837 is not complete. Price needs to come at least under .7365 (wave A) before we can begin looking for a bottom. Also, the decline from .7933 is wave iii of C so even a corrective rally in wave iv will give way to lower prices. A potential terminus for the decline is the 61.8% of 6639-.7891 at .7118. The bearish is bias as long as price is below .7687. Resistance should be strong near the current price (just above .7500).
Strategy: Bearish now, against .7687, target TBD
Al Bawaba
