SUMMARY
The MACD in this 4 hour chart, having tagged the upper yellow trend line is likely heading towards the lower yellow support. The blue arrow outlines the pathway. Give the curren location of the apex; this dip should complete by April 20 to 23 and price should follow. This outcome requires that the bottom yellow support holds and that the remaining subwaves of wave (5) of C complete within the contracting blue lines.
The daily MACD remains heavily oversold (yellow circle) while the rising higher lows of the histogram is foreasting a trend reversal or at least a sizable bounce is to be expected. Now until April 23rd or so could be fully spent in putting in an incremental lower low in price but a continued higher low in MACD.
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