This is the corrective structure of a weekly impulsive down move. If this breaks up with a motive wave we might be in for a very long bullish trend
. If it breaks to the down, it means the correction is still in progress and could go down to the 127% or even 161.8% (overlapping the monthly 76.4%) marked on the chart.
All this is happening around the 61.8% fib retracement of the Monthly wave up.
This is only to have an idea about the longer trends, so we can place our short term orders accordingly.
What do you think?