This is for an Elliott Wave education review. LTC is attempting to hit the .786 retrace from ATH and after several failed attempts could get there in the next 1-2 weeks. A 5-3-5 pattern appears to be happening to the downside in what appears to me to be the final leg of a very complex correction. The target of $87 isn't much lower and a spike below is also possible. Overall, it is starting to appear to look like a basing/consolidation pattern as the log waves get wider and less violent in height. Volume will be a key indicator as we approach the near term target levels. A move up into the 120-130 range would require another count and would likely invalidate these levels. Keep in mind, this is not financial advice. I am simply a student.
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Comment:
I'll need to update the count, but the trend is still down. The price needs to go above 135 to invalidate the count and I looked at the fibs on the move and this current move fits will for the level of retrace. But, I'm a student of the game and am always open to other POVs.
