The question is...... at fib 78.6 or the 88.6 fib retrace?
I'd say we'll very soon see a bounce (remember it's a monthly chart) and a possible retest a little lower at around 42.
BUT could make a possible bottom here.
The instrument is right now more oversold than ever before when looking at the the monthly but a flattening has started.
For finding a similar oversold situation you have to go way back - to the 86 crash to see same level.
Safe trading ladies and gents!
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