has reached Fibonacci support for a 3rd wave, although the degree is unclear given the start of this decline. Near-term bounce may reach the high 6s, or perhaps as high as 7.67/8.75. Either way, a corrective 3-wave
bounce into resistance sets up another decline, likely below 5.00 or even 4.00.
Positive divergence on MACD
still holds, and may continue to hold through waves iv and v.