SUMMARY
From the looks of pattern, Elliott Wave sequence and MACD; the complex correction seems complete and a trend reversal is being staged. The correction is now almost five months in age; and that is long enough of a gestation period for a bull market to be born!
The rounded price formation is pretty clear and that an impulse is leading to higher highs (white). IF a Cup & Handle is to be formed, wave 4 would likely coincide with the handle formation and won't likely be a deep retrace since wave 4s retrace about 0.38 Fib level. The MACD is just about escaping out of the containment of the contracting lines. Even with minor corrections that could potentially bring out the bear calls, I believe higher highs into July is probable.
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