SUMMARY
STEEM put in a complex retracement that went close enough to the prior wave 2. Given the extended 5th, this was not surprising as had been stated in prior posts. What's interesting is the the WXYXZ appears to be complete because all subwaves have been accounted for. Very interesting.
A closer examination of the the current bounce is shown below with a potential for an inverted Head & Shoulders. The Left Shoulder (LS) is complete as well as the Head (H) and the Right Shoulder (RS) is curerntly in progress as shown by the white arrow line. IF this is correct, minimum price move could be towards $2.57 or so.
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Elliott Wave Counting Tutorial #1
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