cloudstreet,
I don't recommend the use of weekly charts. Simply there is too much lost detail. The counter is that it acts as a smoother however so does a short term ema or wrap such as a PV and you don't lose the important stuff.
As far as target generation such as using strategies such as fib extensions a weekly chart is next to useless.
438 is from the 423.6 extension of the double bottom.
Cheers
ww1
holy makerel $3.90, page-26
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