#ENG: Easy explained: from the tech. point of view, the expected target of the wave counting lies around $1110 (+/- 1,5%). If the price will mark >1269$ "EoD" (End of Day) over the POINT OF CONTROL, then (but it doesn't have to be) a BUY signal COULD be triggered.
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ENG: point of control: in other words, for me, this is a level that may not be exceeded at the end of the day's closing price. If so, the downward trend could be no longer secure.