Then, 2nd of March, and now charts as usual;
A little over four months ago we warned that an initial 5 wave sequence down would be negated if “overlap” were to occur. It did as the a-b-c climbed deep into the territory of wave 1. That changed the outlook to a double zig-zag a-b-c X a-b-c. Assuming for the sake of argument that that is correct, then very often, but not always, the second a-b-c develops in a symmetric way, however mirrored. I have stylized how that would look by placing a mirror, represented by the black line, between the two a-b-c’s. The second a-b-c would take us to $32 which, by the way, brings us close to the lower long-term trend line. We are presently where the little blue arrow is! We will see if this happens and in this way.
Below is the log-term chart , posted on the 29th last month, for your convenience;
