Wave 4 has just completed as a running flat correction, and wave 5 will begin. Since there has been no wave extension in wave 1 and 3, wave 5 is likely to be extended, which means wave 4 ends at the .618 of the whole impulse wave. Wave 5 target is around 20.83.
Note
Idea updated. New price target for ALCOA.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.