The monthly chart could well be arguing for a significant peak soon, counting the more definitive waves from its inception, it appears to support a potential impulse wave. It would look best if a marginal new all-time high was seen to complete wave 5 and develop 5 clear waves from both the low in 2016 and from its all-time low.

Now could be a great time to consider taking the money and look to put that money to work elsewhere in beaten down areas or stocks. A pullback in 3 waves towards $50.00 -45.00 once wave 5 is completed is a very realistic target.

Warren Buffett: Be Fearful When Others Are Greedy.

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