From these observations we can say that we are in Wave 4 and still there is a room for a bounce towards 95-95.5 levels before we get a final leg down in terms of Wave 5. Assuming Wave 4 terminates around 95.25 levels we may see a further decline towards 90 levels which is our minimum expectation as Wave 5 TGT as seen in the image below. And if it extends we may even see 88 or 86 levels.