If the current triangle breaks to the downside, it could signal a B wave high, which in turn could be followed by a 5 wave decline to complete the corrective zig zag pattern. Price target if this were the case would be in the region of the previous wave IV...around $63.
It's not a definite, but certainly a possibility - since the current pattern would almost certainly not be wave 2 of a motive wave. It could, however, exist as the final leg of a b wave correction to the upside. Best to stand aside and don't get too bullish too soon...
It's not a definite, but certainly a possibility - since the current pattern would almost certainly not be wave 2 of a motive wave. It could, however, exist as the final leg of a b wave correction to the upside. Best to stand aside and don't get too bullish too soon...
