Wave c of 4 became an extended wave and is very close to being 1.618 times longer than wave a of 4. As can be seen on the chart above. The last move higher towards 1,349 has been followed by a clear negative divergence on the EWO indicator, telling us, that this a weak rally and a top should be nearby.
It should also be noticed, that the entire rally since the 1,180 low has been contained by the rising channel, which is a strong indication, that this rally is corrective and not impulsive. If this rally had been impulsive we would have expected a clear break above the base-channel in wave three and we haven't seen anything close to a break above the channel resistance line. So be ready for a top very soon and a powerful decline in wave v to below 1,180.
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