So that headline may have caught your attention, right? Well, don't get too excited yet because so it may take awhile for anything SIGNIFICANT going up to take shape. But nonetheless, between the wave count and the completed bat, and just some good common sense, it would appear that some kind of move up is imminent. Again, it may take some time to develop, months probably, but something may happen.
The above chart is showing my WEEKLY wave count that is also showing that the 5-wave move down from the highs has not completed. What I am seeing is that right now, prices are in a wave 4 of 5. So if I am correct, then what is to follow is that there will be a wave 5 down yet to come. That wave 5 down may end at the MAJOR SR Structure that I have on the chart just around the $34.00 mark. Keep in mind that the MAJOR SR Structure is NOT a set price point but rather a range. But $34.00 seems to be about right. Now that is not saying that prices WILL make it down that far but my wave count is showing that is a real possibility.
Here is my MONTHLY Chart overview:
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