In a bearish view on the weekly chart frame, it appears that on the  A – Triangle B – C  formation as a possible wave (B), wave C could still be extended to lower.

The expected fibo-expansion target for the wave C, could be around the 953 level where would establish an equality ratio with the wave A.

An alternation on the ongoing formation :

On the second chart, an alternate count has been shown; for when on the A-Triangle B-C  formation which is likely completing, the first wave be considered as a three-waves subsequent. And hence, adjusting the wave count to a sequence W -Triangle X – Y .

Platinum - WeeklyPlatinum - Weekly 1


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s