After the 2020 dump and recovery to new all time highs in Nov 2021, price could move sideways/down for some time e.g. until late 2024/early 2025, until a new uptrend. This is if it fails to push past $110 to new all time highs in the short term, in a scenario similar to 2008-2009.
Key levels are around 110.19, 93.60, 77, 60.42 such that:
1) Above 110.19 and then a move higher to 126.78 is possible 2) Below 93.60 and a move lower to 77 is possible 3) Below 77 and revisiting 2020 lows is possible.
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Break $108 and we are looking at possible $113
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As predicted, still ranging between 93.6 and 110.19 for long time. Is pulling away from the 93.6 level for a while now suggesting further upside.