Previously, wave (2) retreated 68.3 % of wave one and the upward trend resumed. The third wave (3) was an extended wave with 361.8% movement of wave (1). The fourth correction wave retracted back 50% of previous impulse, wave (3), and the uptrend continued. The upward impulse finished with wave (5) on April 2015.
Currently A-B-C correction is happening. The movement of (A) is about 50% of wave (5). The correction wave (B) retracted 76.4% of (A), and the (C) resumed the downward movement.
The whole correction is expected to retract 68.3% of wave (5) to about 85, which is quite close to 38.2% of complete upward impulse (85.65). If further downward moment continues, it will correct up to 50% of upward impulse (67.87) .
Happy Trading and Happy New Year.