Here's the generational potential I mentioned on the Daily "Big Picture" idea linked below. Could price correct deeper? Sure. Anything's possible. I included a box for the 38.2-61.8% retrace of I-II (log scale).
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Just look at that MACD and RSI positive divergence into last December. Strong reaction followed, no surprise. The 100% extension of presumed (1)-(2) of Primary 3 would be a possible target for red B.