The price reacted to the 0.236–0.272 Fibonacci level, effectively marking the end of the WXYXZ correction. However, for a Wave 2, this represents a relatively shallow retracement implying that alternative scenarios must remain on the table. This could still be an unfolding flat structure (3-3-5), with Wave A forming as a triple zigzag though this is less likely. A more probable outcome is a zigzag (5-3-5), which would require a sharper corrective move. Another possible structure is a double zigzag (WXY).
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