A complex correction b is currently under development, the structure of which hints at the primary double zigzag â“Œ-â“-â“Ž. The actionary leg â“Œ and the intervening zigzag wave â“ look complete. That is, the last sub-wave â“Ž is being built now.
The primary wave â“Ž most likely takes the form of an intermediate zigzag (A)-(B)-(C), where the impulse (A) is formed.
The price may rise to 150.48 in the near future. At that level, intermediate correction (B) will be at 50% of impulse (A).
In an alternative scenario, the bearish primary wave â“Ž is more complex in structure and takes the form of an intermediate double zigzag (W)-(X)-(Y). The intermediate waves (W) and (X) may already be fully completed.
Thus, the market is currently in the last sub–wave (Y), or rather in its last part - the impulse C.
It is assumed that the price in impulse C may fall to 108.48. At that level, wave Ⓨ will be at 123.6% of wave Ⓦ.
