We have 5 waves down to ma100 so....
But the 2.618 fib doesn't have to be reached. We could see a shs , for a truncated 5th wave.
So far the ma 50 on daily must be target
If what we have seen since New Years Eve is a 4th wave down ...
then it is backed up by the fact that it has retraced 0.382 fib of the 3rd wave back to the 4th wave in the 3rd... Very common.
And! The wave structure keeps within the EW-channel
But time will show... as always!
Safe trading ladies and gents!