The low of Thursday’s swoon occurred two cents from the 46.42 Hidden Pivot target shown. Because it took more than a week to reach, any bounce should require at least 2-3 days to play out. If it carries above Monday’s high at 49.91, especially with a close above a nearby Hidden Pivot midpoint resistance at 50.50, that would strongly suggest bulls have gotten second wind for push to 52.52, or even to 54.55 if any higher. Alternatively, a relapse below 46.42 Friday or Monday would imply significantly more selling remains to be spent. FYI, the larger, bullish pattern associated with the 54.55 target can be found on the 240-minute chart, where a=44.12 on May 9, and b=52.28 on June 8. I have not put the target in boldfaced green because the 48.44 ‘trigger’ price that would create a proper point ‘C’ low has yet to be achieved.
