Looks like we're stuck between two possible patterns.
My outlook is that a break over 4.2K Will complete the IHS and should bring us to 5.23K.
Technical:
Strong fib confluence at 5.23K is show as:
.618 of the large swing & is the same fib as 1.886 of the 3.1K to 4.2K swing.
A break under 3.5K should have us zigzag down to about 2.45K.
Technical:
1.618 of 3.1K to 4.2K ABC swing is 2.45K
This is also the 2.618 of alternate orange 1 and 2 from 4.2K to 3.5K.
My outlook is that a break over 4.2K Will complete the IHS and should bring us to 5.23K.
Technical:
Strong fib confluence at 5.23K is show as:
.618 of the large swing & is the same fib as 1.886 of the 3.1K to 4.2K swing.
A break under 3.5K should have us zigzag down to about 2.45K.
Technical:
1.618 of 3.1K to 4.2K ABC swing is 2.45K
This is also the 2.618 of alternate orange 1 and 2 from 4.2K to 3.5K.
Comment:
Thinking this is the correct path.
Comment:
two possible outcomes.