What is it? The first wave in the third in the fifth or fifth in the fifth?
The third wave is usually a powerful impulse. Even the first wave shows a clear impulse. What we are seeing is either a divergent triangle or a wedge.
The fifth wave can be a wedge.
Our analysis of waves in a wedge even satisfies Elliot's law for impulse: the bottom of the fourth wave cannot fall below the peak of the first wave.
If this is the fifth wave impulse, the next thing we should expect is a downward impulse, which should penetrate the price at 130 and go far down.
We do not exclude that this may be the fifth wave in the first in the fifth.
In this case, the target of correction is 130 - further new highs.
The third wave is usually a powerful impulse. Even the first wave shows a clear impulse. What we are seeing is either a divergent triangle or a wedge.
The fifth wave can be a wedge.
Our analysis of waves in a wedge even satisfies Elliot's law for impulse: the bottom of the fourth wave cannot fall below the peak of the first wave.
If this is the fifth wave impulse, the next thing we should expect is a downward impulse, which should penetrate the price at 130 and go far down.
We do not exclude that this may be the fifth wave in the first in the fifth.
In this case, the target of correction is 130 - further new highs.
