1. Waves: On the 4H, It has completed the 5 waves. It's currently in the correction phase [C wave of the ABC cycle.]
2. Triangles: I've also used the to show the current downtrend in the C correction
3. Fibonnaci retracements - link up well with the lines of the retracement
I'm betting on it going down to $58.
In the short term, it May likely retrace to $62.30 if it breaks the triangle at $61.30 mark. If it's unable to break that resistance line and stay above it, we'll be dropping down to $58. Not before trying to break the support line at $60.07