Wave Analysis

kelmarinThe chart shows a completed 5-wave impulse move upward (labeled 1, 2, 3, 4, 5) from the bottom in late 2022 to the current price level.
Within this larger 5-wave structure, there are smaller wave counts, particularly visible in wave 3, which is often the longest and strongest wave in an impulse move.
The analysis suggests we may be at or near the top of wave 5, which could imply a potential reversal or correction might be due soon according to Elliott Wave theory.