Looking like a pennant or symmetrical triangle is forming. We...

Looking like a pennant or symmetrical triangle is forming. We see lower highs and higher lows like a spring compressing. Wave theory says that a stock should hit the 1.618 fib during the 5 wave cycle, and if it hasn't by the 5th wave, then it should on the fifth wave. In addition, there is an extended wave and this extension most commonly occurs to commodity stocks during the 5th wave - I think we could be seeing this now. The extension, symmetrical triangle (or pennant) and the 1.618 puts the potential price target at 66-72c.

GLTA