From a strictly wave perspective, it is a valid argument that the market is continuing to trade an incomplete ABC from November 2018 highs. The final targets in this sequence is 1.886%. That area not only includes the target from the highs, it is also the 200 MA. For trading it is difficult to trade the last fumes lower here until we get a clean break through the 2.113%.
As we go to press we are still holding support, I am tracking for signs of an impulsive rise to validate the support whilst keeping in mind any break lower will expose risks to 1.886%.
Thanks and good luck.