We're at the completion of the first wave up and will most likely hit a heavy resistance level at $127, which is also the .382 fib level.
Wave 1 is currently on the fourth sub wave down and will have a fifth sub wave up.
Wave 2 could retrace around $111-$112, which is also the .618 & .65 fib regions or perhaps bounce off the .5 region ( if really bullish).
Wave 3 will need to penetrate $127 in order to have this bullish scenario above otherwise, I would consider this another impulse move failure and we can expect the test the bottom once again.
Wave 1 is currently on the fourth sub wave down and will have a fifth sub wave up.
Wave 2 could retrace around $111-$112, which is also the .618 & .65 fib regions or perhaps bounce off the .5 region ( if really bullish).
Wave 3 will need to penetrate $127 in order to have this bullish scenario above otherwise, I would consider this another impulse move failure and we can expect the test the bottom once again.