Looks like a symmetrical triangle pattern. Possible overthrow down, but it could also overthrow upwards depending on the market.
Rules and Guidelines for the Triangle:
-Wave A is a simple, double, or triple zigzag pattern, or a flat correction. -Wave B is a simple, double, or triple zigzag pattern. -Waves C and D can be any correction pattern, except a triangle. -Waves ABC and D remain within or close to the triangle channel. -The triangle is closed after wave E. -The triangle lines converge; they cannot be parallel lines. -One of the sides of the triangle can be a horizontal line. -Wave E is a simple, double, or triple zigzag pattern, or a triangle. -Wave E has a smaller price move than wave D, but it moves more than 20% of D. -Either wave A or wave B has the biggest price move. -Wave E ends in the range of wave A. -Wave E ends within or close to the BD line.
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