Voltaire,
Interesting you mention 3*1150 = 3450. Dropping down 460 from 3940 (4400 bounce high - 3940 base) = 3480 - which is very close.
Now what's even more interesting is if you use 1979 as the base (when the modern XAO index started with a value of 500.00) the 50 fib up to 6400 (6800 was false top) you get - hey presto! - 3450!
So is this the target?
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