There is still a chance for another upward wave as long as the level of $7,700 is not clearly violated, because the ABC zig-zag
correction looks now completed. The key level for the upside is still seen at $8,271, so a bullish
breakout above this level is required to confirm the bottom is in place. Breakout above this level will open the road towards the next technical resistance at the level of $9,187.
On the other hand, a failure to rally here will likely lead to more decreases towards the technical support at the level of $7,230. Any breakout below this level will invalidate the impulsive scenario.