DM,
Rjaadave can probably explain his chart better than me, but what he is alluding to is that under Elliot wave theory, we have been in a corrective ABC zigzag pattern, which has either completed or is very close to completion. The Theory says it should now commence an upward thrust that 'should' surpass the previous recent high around 9 cents and change
Cautionary note though, the pattern can evolve in many other ways, including double and triple zigzag
DYOR, which for Elliot means years
Disclaimer: novice at it, enough knowledge to be dangerous!
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