If this is the Elliott 5th wave, and diagonal as it seen, then a long period of bearish trend is just begin.
If it breaks the channel, the lower side of the channel will be seen in a very short time and it will be the first target (wave A)
Thank you. Still the markets are in bullish trend. After the friday movement I begin to think that the 5th wave didnt finished and in the following days markets will see a new high or a failure. If they cant see a new high, the speed of the correction will be more destructive. Following two weeks are very important and will show the the direction of the markets.