We have seen a firm test of the 61.8% corrective target at 75.63 and we will now be looking for signs of a bottom being formed. Short-term a break above minor resistance at 77.53 will be the first strong indication that the zig-zag correction from 95.03 has completed and a new impulsive rally is unfolding, while a break above resistance at 80.10 will confirm that wave 3 is unfolding towards 129.30.
The zig-zag correction should be close to completion and a bottom should start to build around support at 75.63.
