The black circle wave 2 I said on december 23. was underway, have developed nicely into a five wave rally from 142.18 to 144.20 as wave a and wave b is currently ongoing. As can be seen in the 5-minutes chart below we are in the final [c] wave of b, which is expected to reach the 143.19 - 143.43 area, before taking of high in wave c. If wave a and c where to be equal in length wave c should find a top near 144.89. That however will most likely make the correction to short, therefore I do expect wave c to be at least 1.618 times wave a, which should bring wave c closer to the 145.72-145.80 area.
As this isblack circle wave 2 I would normally expect this wave to correct between 50-61.8% of black circle wave 1, which should take us up to between 146.82 to 147.92.
The to of wave 4 of one lessor degree comes in at 147.77.
Nice five wave rally in wave a does call for a simple zig-zag up in black circle wave 2.
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