Wave summary;
As the resistance line at 141.04 has protected the upside and turned prices lower, we still have two possible scenarios in play.
The first shows that a very complex corrective pattern is still unfolding for an orthodox top at 145.69 and since then an expanded flat pattern has been unfolding. A final decline to the territory below 126.05 should be seen.
The second scenario suggests that an expanded flat pattern has terminated at 126.05 and a new impulsive rally now is unfolding, but a break above the resistance-line near 132.50 is needed to gain momentum to play out this scenario. The breakout above 132.50 calls for 141.04 and above.
Trading recommendation:
We will remain sidelined for now.
