Last updated February 19, 2019
Just the monthly chart for now, as it looks and counts very well as having completed (blue) Primary III of (purple) Cycle-3. The last wave up since (black) major-4 low made in mid-2015 is clearly a diagonal, which is common for a 5th wave (in this case a major-5 wave). In addition, there was a classic overthrow (move above the upper trendline of the diagonal) and then a relapse lower. A move below the lower trendline will confirm this pattern and tell us we should for a (blue) primary IV to bottom in the $35-36 region (38.2% retrace of III and around the 76.40% extension). Then primary V should take hold and at least target the 176.40% extension at around $70.60. But, since III was in this case not extended, wave V will likely be and could target much higher. For now, lets not get greedy and not try think around too many corners and too far ahead, but assess first how IV is going to play out.