Price has broken a long term resistance and after a small rally it makes a correction. In the chart we can see a potential butterfly pattern
where its D point is at the 0.618 of the impulsive leg which broke the resistance level
. In elliot wave
i believe this at D point we have the begining of wave 3.
Entry Point: 42
Profit Target: 52.30
Good luck to those who will follow. :)