I interpret structure to be in minuette (v) of minute [v] of minor 5 of intermediate (C) of primary [B]. A lot of ending 5's are very near folks.
Notice how the 50 sma has held price in check since July.
Noteworthy as well, look at the RSI action since it registered its low in early June. It has consistently been turned back down from the 50% level. In fact, this has happened 6 different times.
There is big positive divergence, forewarning that a change of trend may soon be at hand.
The DSI readings continue to point to a one way trade here. As has been mentioned in these posts numerous times, this can not go on indefinitely.
5 = 61.8% of 1 - 3 at 74.79. This is the minimum downside objective that would be expected to be reached.
Bottom line - This trend is very mature at this point in time. Be aware that it could end at anytime. As always, an impulse off a low with a channel break will give confirming evidence.
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