A spike below the 50% corrective target at 200.94 and a quick return and close above the opening level of the day indicates that wave [A] has been completed and wave [B] towards 306 is now in motion. It is possible that the correction in wave [B] becomes a minor corrective wave and does not reach the ideal target of 306. In addtion to this, B-waves are almost unpredictable, so be careful with the expected rally in the days/weeks ahead.
We would also like to stress that we are looking for a counter corrective rally before the price shows more weakness towards the 61.8% corrective target at 157.66.
