The market has dropped to the level of $9,434, so the green impulsive scenario was invalidated as wave 2 went into the territory of wave 1. The current scenario assumes a top of the wave 1/A at the level of $11,714 and a rather extended in time and price correction in the wave 2/B in form of an ABC Regular Flat pattern. The nearest technical resistance is seen at the level of $10,111 and it the count is correct, the market should now start to develop wave 3/C to the upside.
