[FXI] update

In the backlink I was modeling an immediate bounce with first resistance at around $38 followed by a small pullback.



That seems to be just what happened.  The pullback is now testing the 50 fib from above and my primary model is for it to head up from here into the $40 range as a next target.  If, however, the 50 fib fails to hold, then we likely have a move back down per the blue path ahead of us, likely to form a triple bottom.  In this case the recent move to $38 would be a C wave.

If it gaps in either of these directions it probably sets the stage for the next wave.