Hi everyone, hope you are all great.

So... Let's get into it...

Weekly Chart is showing a quick raise in Wave C(red) to complete Wave (D), seems like another drop for Wave (E) is still targeting 

the lower triangle trendline, to complete this long term correction...

A rise from the lower trend line, after the this long-term correction, under the current count,

would suggest the beginning of the start of Wave (1) of a long-term raise.

(a drop across the %50 retracement would favor Alternate #1 count for an extended Wave (C) correction towards the %62)

Daily Chart is been showing the current Wave (E) could still be continuing towards the lower trend line and possibly to match 

previous lows (of Wave B(Red))... let's see if the latest impulsive raise gets halted or continues... 

Overall the moves continue to be corrective in nature overall, and still below the EMAs, so I'd be careful of starting long positions until

the price raises higher impulsively for the start of the new trend up described in the Weekly Chart.

4Hour Chart is showing the potential for the initial Wave i of the new trend up...

If that is the case Wave ii should be taking place now within the current small Descending Range...

60Min Chart shows the potential for this new Trend up... with the first 5 potential Waves (blue) completing Wave i

And the Descending Range showing corrective Wave ii could still be developing...

Wave iii would be confirm once the price crosses the highest point of Wave i...

Weekly Chart is showing an extended Wave C(red) now potentially at completion of its internal Wave [v] 

to potentially make a last high.

Notice the Alternate #2 for more extensive correction of long-term Wave [B] to have in mind.

Daily Chart is showing Wave C(red) completed with Wave [v] most likely completed at the top trendline of the Trend Channel(yellow).

So watch for the price to head towards the 200EMA and lower Trendline for the potential of a new long-term Trend...

4Hour Chart is showing Wave (v) of Wave C(red) could have found a top...

If that is the end of Wave C(red) we should expect the price to continue moving down in a impulsive way, across the 200EMA.

60Min Chart is showing how the price is moving below the 200EMAs forming 5 Waves which could be completing Wave (i) soon...

After Wave (i) confirms to be completed we should expect a retracement for Wave (ii) which could bring the price towards up in a corrective manner...

Weekly chart shows an extended Wave (4) correction crossing the 200EMA in a rather struggling way...

At this current resistance point the price could start coming down lower to start Wave (5)

or continue higher as Alternate #1 suggests...

(Note Alternate #1 for a possible larger Wave (4) developing across the 200EMA).

Daily Chart is showing the Wave C(red) completing Wave (4) in what should then be a false breakout 

of this long term triangle formation (blue long-term trendline).

If this is a false breakout the moves could start bringing the price down impulsively if it re-enters the blue long-term trendline.

Next, if this count is correct, we should expect the price to continue the moves down impulsively for Wave (5)...

But the price still needs to breakout of the current tight Ascending Range formation that it is now and cross the EMAs... 

4Hour Chart shows Wave (4) correction extended and sitting just below the 50EMA after lingering at the upper trendline of the current Range formation(blue)...

Next, I would wait for the price to confirm the start of Wave (5), before committing to short positions.

(i.e. breaking current Market Structure (blue trendline) to the downside)

60Min Chart is showing the price lingering below the EMAs at the middle of the current Range formation...

which could lead to further moves towards the lower long-term Trendline (blue).

All the best for everyone and please do not hesitate to contact me if you have any questions or comments.

Andres

Please be aware: that these Analysis are own opinions, not Trading advice; Trading carries a high level of risk, and may not be suitable for all investors. Before deciding to trade you should carefully consider your investment objectives, level of experience, and risk appetite.