MP - Long term count in jeopardyMP Materials Corp Class ABATS:MPTSuthWith the recent developments coming from this ticker, I am beginning to re-think my longer-term analysis. Initially I had no concern for the primary impulsive count that I had begun to track months ago. However. with the continued move lower, that count is losing credibility and fast. Normally, wave 4's of any degree do NOT breach the 0.5 retracement fib of the prior wave 3. It is not an invalidation, however, if price breaches this retracement fib, you're normally not dealing with a wave 4. Then the question becomes: what exactly are you dealing with? To my eyes, we have two possible counts that are possible from here. The first is what I have been describing for months now. It states that price is within intermediate wave (4) of primary wave ((3)). If price breaches $29.72 then this white count is invalidated; no if's and's or but's. The fact that it has yet to move higher though, as stated above, has me questioning its validity. If this count is not what is unfolding, then the other option would be not impulsive, but corrective. If it is corrective, then we would no other option but to be within intermediate (A) of primary ((A)) of cycle wave b. I have added turquoise retracement fibs to help guide a corrective pattern is this is in fact what is unfolding. Turquoise eventually points to the $25 - $16 range for a STANDARD termination point. Will it actually move that low? I cannot yet say. However, what I can say is....it's possible. The most important thing to do right now, is to watch that $29.72 price point. Below that and not only is white INVALIDATED, but turquoise is VALIDATED. the yellow 1.0 is @ $34.04. If price can hit that, bounce higher with impulsivity, then white stays alive. Any other scenario points to the turquoise pattern.