Bullish 5 wave pattern completed from Jun 13th to Jul 10th
Corrective wave is still forming; A & B are complete, C is still in the processes. Prices should drop to at least the Fib 1.382 at $52.40 by Aug 8 to 12, signified by box C: Next possible target at Fib 1.618 is $51
At this point if all goes as planned, we should see a head & shoulders pattern form and continue the upward trend.
If price drops below $50.60, $48 is the next probable target and this isn't an A-B-C pattern but a new 5 wave downtrend. I think it's unlikely.
Corrective wave is still forming; A & B are complete, C is still in the processes. Prices should drop to at least the Fib 1.382 at $52.40 by Aug 8 to 12, signified by box C: Next possible target at Fib 1.618 is $51
At this point if all goes as planned, we should see a head & shoulders pattern form and continue the upward trend.
If price drops below $50.60, $48 is the next probable target and this isn't an A-B-C pattern but a new 5 wave downtrend. I think it's unlikely.
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