$VALE Should Now Produce a Counter-Trend Rally

First identified in this tweet, a top of significance was put in this year on $VALE.

It looks to have completed a 5-wave structure to the downside, complete with diverging lows. It is now favored to have a relief rally to the orange box. Afterwards, we may expect it to produce a second 5-wave decline to the lower orange target box.

VALE


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