Looking at daily chart I can see 5 wave Fibo cycle nearing its completion. So correction is due.
However, I do not expect it to be as steep as the one before - looking at weekly you can see a triangle type of a figure so the range is narrowing down. Also, Fibo tells me that once triangle will be complete there will be a strong move up towards 2800. This should complete A-B-C correction on weekly charts.
This is my logic. Once correction proves itself I will also buy puts.
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