As we have broken the confirmation line I feel it is necessary to post this chart right now, I hope you have already noticed the potential pattern!
Bulkowski's Big W :-
Big W, up breakout B + ((H - L) * 74%)
Where B = D, H = A & L = B
It could be argued this does indeed resemble the Harmonic Pattern of a "bearish butterfly" with targets in play for the short trade , however we may have indeed completed its short life?
An interesting junction approaching whereby Elliott wave versus Harmonics?
So which will win as we are in a motive phase wave (4) or a bullish leg(CD) of a possible Bearish Pattern? We have to remember according to Elliott Wave Rules if (4) exceeds (1) then this Motive Phase down is invalidated at $28,555!
If Bulkowski's Bump & Run Reversal(BARR) pattern is in play then the fact we have closed above the upper diagonal on the daily time frame should signify a bullish run is active!
Bulkowski's Bump & Run Reversal :-