Price has made its steady march on its way to higher highs. Becoming stagnant just shy of the 1700.00 mark, the price consolidated in a canal with a slightly descending angle. Initially, I thought this could be the entirety of the corrective pattern which was to be expected given the gains the asset had realized in the past few days, but after seeing the price drop straight through this previously defined canal it's much more likely that the sideways movement is an initial diagonal for wave A and now we are likely seeing a wave C, that if I'm right, I'm expecting it to finish somewhere along the two marked zones of 1518.00 and 1478.00.
