If price can go above 130 without dropping below the 78.6% Fib level at 113 and of course the invalidation level at 100, it has a high chance of making a new high.
Above 130 I would look for a move above 143-ish before going for 178 then 200
Do you have any doubts that it will climb back over $113 in the near future? ....I'm asking for a friend, lol.
ElliottWaveBelgium
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@DansGoneFishing, lol
It depends on what "near future" means for you ... and what you're able to endure as a drawdown ...
When price breaks down as it did here, we sometime get a move up retesting the purple and blue VWAPs around 110/115.
If it will do the said retest and/or if it will move above that, I can't know... sorry
Just be aware that it can go down a lot more than one might think, especially if all markets start keep on going lower.
Don't forget that if it's down 50%, it can still go down 100% more...