Could be another decline to complete wave (5)
Updated
alter count in red, but seems very less likely to happen
an impulsive break below the yellow trend line may indicate wave (5) is under way
an impulsive break below the yellow trend line may indicate wave (5) is under way
Comment
bearish count on the daily chart Comment
1 hour count shows two structural potential:pink a-b-c argues a flat that may re-test the recent high near the fibo 50% retracement level or even 61.8% level
white a-b-c then yellow 'five plus three' structure suggests bears could strike for a new low at any time
note: pink b could also be sub wave a of b, then b-b & b-c to complete a zigzag b followed by another c wave up
Comment
'When you have eliminated the impossible, whatever remains, however improbable must be the truth.'
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