I currently see this as being a corrective move (inside the larger corrective move) from the recent surge. The yellow ABC marks my anticipated correction. Point B reached up to the 50% retracement and is now moving back down to complete the leg.
My target is the 127-141% which, if achieved, would also hit the 38.2% retracement from the first leg up. From there I would assume there is a bounce to complete the final leg with my target again at the 127-141% range.
My target is the 127-141% which, if achieved, would also hit the 38.2% retracement from the first leg up. From there I would assume there is a bounce to complete the final leg with my target again at the 127-141% range.