From the charts and using Elliot wave guess;
From the Aug 2015 lows it has completed a small five wave up.
This top could a part of a larger/normal 1 wave up
and the retracement part of a 2 wave down. (could also be an AB wave with C wave to complete the equal of the 1 wave up - then we have the 2 wave down?? this will be corrected in hindsight after the event.)
So the next leg is is the big 3 wave up. (unless it is the 1 wave as per the previous bracketed stuff- then the up leg will be much larger and best to get in again after the 2 wave correction for the 2-3 wave up)
Don't believe in using Elliot wave much though- as is too subjective and changing over time-however this chart seems easy to fit- could also show a couple of five wave down leg from April till August.
Also there is an uptrend in the making- two higher highs and two higher lows.
Also it is holding onto the yearly moving average -Typically it should either swing higher or lower than this.
Also the multiple moving averages look like recent action is a swing point and something is about to happen.
Great chart for analysis as my reading/musing of technicals show it should uptrend now, as it has fulfilled a lot of parameters.
Having said that the market likes to show who's the boss and who pays the paycheck. So in again waiting for paycheck.
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