I’m looking at a 5-wave downmove which started at 134.10 and has probably bottomed out for the moment at least at 105.60. The 38.2% retracement of this move is at 116.50 which is also approximately where the next bearish trendline comes in. Longer-term bears can consider selling a failure at this level. Support should now be firm around 108.50 which is where the most recent daily trendline was broken.
