A nice example of an pattern completion, called a RUNNING Flat, with 3-3-5 internal wave structure, and Wave-B ending significantly past the origin of Wave-A, whereas Wave-C fails to line up with termination level of Wave-A, indicative of a "hurrying" market in resumption of a the trend, here: DOWN.
Target is purely geometric , based on a AB = CD symmetrical projection.
(All educational, of course)
Predictive Analysis & Forecasting
Denver, Colorado - USA
As far as the directional bias of the chart, it has since turned from bullish to neutral, indicating an early bullish market reversal confirmation. I would have to regard this one as a failed bearish trade. If I trade this one, it would be off of a new analysis, given the new price action.
Yellow line added as a "tolerance" level relative to price close.