Nouf, I think it's important to remember who is creating the...

Nouf,

I think it's important to remember who is creating the sentiment you are measuring on a chart?

People!

And people love good news!

So IMO, if no good news comes than the traders using charts as their only instrument to determine their wagers/investments will probably behave in the manner your chart suggests.

However if good news comes eg;

Increased production, increased return from sales from high prices ,reduced costs, increasing value of inventory as gold price rises.

To name some , then the investors will take control from the day trader and restore value, imo.

And a 5th wave won't matter at all.

Expecting a chart breakout on this one at this time. imo.