After the bullish 5 wave pattern,
it looks a little bit like a
corrective triangle pattern
has begun to form.
D Wave.
With the completion of
a double top pattern
at the 136 zone,
the D wave of
the triangle pattern
will have met its
61.8% Fib Level requirement
along the triangle trendline.
E Wave
The location of the projected
61.8% retracement from...
After the 2007 to 2011 bearish 5 wave pattern,
this Zig Zag Correction Pattern on the
Monthly time frame could be expected to complete
a retracement to, about, the 61.8% fib mark.
Only time will tell
