Approaching 8.1-8.2k within the week

4 Jun 2018

The following 2 Elliot Waves (1-5) depict one of the wedges (smaller) and the extended bull flag (bigger). Once we see the completion of the 4th wave of the extended bull flag, we should expect the 5th wave to hit the extended flag resistance, with a then following ABC correction. The B wave will complete on a previous trend-line, as well as the support for the extended flag. This will lead to a breakout to the the greater 0.5 fib-line (8.15k) with its origin at the bigger wedge's completion of a C wave.