Metal made a marginal new low below 2.423 which means unless a FLAT plays out, we should see more downside in the metal. Wave (x) is proposed to be over at 2.554 & short-term wave (x) is considered in place at 2.494. As this level and more importantly 2.554 high holds, expect continuation lower toward 2.337 – 2.286 from where another 3 wave bounce would be expected. We don’t like buying the metal in proposed bounces.
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