My old yellow alternative (2) has become my primary now. Allowing for one more local low in (v) of cir-c of Y of (2), as shown. Other ways to count this corrective slop; red A-B-C for example. Regardless, entering support for possible turn higher. I'll be looking for technical divergence (on MACD and RSI for example) as well as an initial impulsive move higher for clues. The area of resistance overhead is a candidate target for wave 1 of (3).
Comment:
Strike "entering support." Price is "in support" as indicated by the yellow box which has been hanging around down here for months...
