Tentative count suggests near-completion of 5 wave impulse, pending correction CROW Code suggests residual leg up to 77.78
TWO Possible Scenarios:
1 - Complete Wave Count: Assuming tentative wave count completed at recent all-time-high, look for decline to 53.17, or CROW target: 54.56
OR
2 - If price breaches 77.25 high, CROW target will require further revision, but Elliott Wave principle would likely apply such that 53.17 vicinity would likely be revisited. A more precise CROW target would still require further revision.
Price broke above expected target. Adjusted target keep price susceptible for a significant pullback.
Look for a 5-wave internal development as wave-v moving against a significant exhaustion gap.
All gaps effected in recent rally from bottom of chart are classic and representative of eac gap. It is quite interesting here that they all occurred within the same impulsive advance:
1 - Break-Away Gap 2 - Run-Away Gap AND 3 - Exhaustion Gap
There is no certainty here, but tentative Elliott Wave count, gap series and CROW Code target are coming to roost.
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