The strong rebound bears the characteristic of an upward wave "E", advancing towards an unfulfilled target range formed by a 100 percent Fibonacci projection level of a wave "C" target and the 61.8 percent Fibonacci retracement on the fall from $1,920.30 to $1,534.49.

Should the rebound stop around $1,725, chances will be high for it to fall back to $1,681.74.

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