Though I would not be surprised to see further decline in price I would expect support at the level; 63.56, if she dips any further than that 60.19 (represented by the horizontal magenta line) must not break otherwise the wave count would be invalidated by the trough of "wave 4" dipping into the peak of "wave 1" note that I do not expect this scenario to play out. Based on current price levels we can expect with seventy percent certainty to see a wave 5 up which will take EFA to 77.44 and potentially even as high as 85. It is also plausible we would see a truncated wave 5 based on the mellow wave 1 and the notion that wave 5s resemble the wave 1 of their respective wave count, we will see. A further dip in price will require a re-calibration of the upside targets and if necessary I will do so in a few months time.
Thanks for reading this post, criticisms and question are welcome.