Analysis of the similarities between April 2012 and NOW

Similarities indicate possible wave B 

DAILY  ANALYSIS

- MACD histogram > 0

- Price > 50 EMA

- Price below previous high at overbought conditions

HOURLY  ANALYSIS

- Divergence between Price and MACD and RSI

- Overbought conditions

CONCLUSION:

Confirmation of impulsive wave C (down) will come from MACD histogram turning over and becoming negative.

This new wave C with occur in 5 subwaves: We will look for an 1-2-3 set up on the down direction


ALTERNATIVE:

A retrace of about ~50% of this push up since 10/15/14 in the short-term and then a break out with a daily close above the contemporary high will be interpreted as a 1-2-3 set up on the up side