This is the daily chart but I though it was clearer for showing the weekly cycle at this point.
Using April 2 double bottom as weekly cycle low date. Next weakly cycle low is expected late summer.
Price targets vary greatly, price action so far has been very mixed and could go either way at this point.
Current daily cycle will probably give better insight into summer price targets in the next few weeks.
A scenario I did not show is the possibility of a bearish daily cycle follow by a neutral daily cycle with $1.519 holding as long term support.
Using April 2 double bottom as weekly cycle low date. Next weakly cycle low is expected late summer.
Price targets vary greatly, price action so far has been very mixed and could go either way at this point.
Current daily cycle will probably give better insight into summer price targets in the next few weeks.
A scenario I did not show is the possibility of a bearish daily cycle follow by a neutral daily cycle with $1.519 holding as long term support.
