Corrective Elliott Wave
pattern nearing completion. Note also positive divergence forming on MACD
. Future impulsive rally thru 16.20 will indicate significant low is complete. A corrective 3-wave
pull-back from a 5-wave
move over 16.20 will set up a long entry with stop at coming low. Confirmation comes with price moving higher than initial 5-wave
See also hourly and weekly analysis.