Following on the weekly analysis, Here we zoom in Cycle wave c to chase the impulses to the downside.
We are into an incomplete Primary wave 3 which completed its subwave 3 back in March, and now we wait for its subwave 5 to unfold. Because the bounce off 21€ occurred in a three waves move, subwave 4 may have completed on the 2nd of April.
This being said, let's add 'this is a wild market' as a cautious guidance. Tangibly, with subwave 3 displaying a double gap down and being so violent, subwave 5 could well be truncated and not reach 21€ again. A subwave 1 extension gives a target at 24.50€.
Now looking at the grand scheme of things, an extension of Primary wave 1 sets a target at 18.45€ from Primary wave 2 peak, and at 20.12€ from wave 4 peak (assuming this wave 4 completed on 02/04) , as drawn on the chart...but I'd keep that target for Primary wave 5 in a couple of years. Unless TOTAL crash is not a chronic but merely a sharp one. Could this market get any wilder??
We are into an incomplete Primary wave 3 which completed its subwave 3 back in March, and now we wait for its subwave 5 to unfold. Because the bounce off 21€ occurred in a three waves move, subwave 4 may have completed on the 2nd of April.
This being said, let's add 'this is a wild market' as a cautious guidance. Tangibly, with subwave 3 displaying a double gap down and being so violent, subwave 5 could well be truncated and not reach 21€ again. A subwave 1 extension gives a target at 24.50€.
Now looking at the grand scheme of things, an extension of Primary wave 1 sets a target at 18.45€ from Primary wave 2 peak, and at 20.12€ from wave 4 peak (assuming this wave 4 completed on 02/04) , as drawn on the chart...but I'd keep that target for Primary wave 5 in a couple of years. Unless TOTAL crash is not a chronic but merely a sharp one. Could this market get any wilder??