The range has been formed by the 223.6 percent and the 161.8 percent Fibonacci projection levels of a downward wave C.

The bias is towards the upside, as the rebound from the Sept. 27 low of $15.57-1/2 may extend to $16.37, the 38.2 percent Fibonacci retracement on the fall from $17.65-3/4 to $15.57-1/2.

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