The $12 downside target in today’s commentary is vague, but we can calculate a precise target at 12.395 using the hourly chart and, for point ‘A’,  a peak at  15.575 recorded on June 11. That should be regarded as a minimum downside objective for the next 4-7 days, and although a tradable bounce should be expected, some visually obvious supports down near 12 are likely to exert strong magnetism. (RA)