Well my initial theory was void today as we have a higher high above $1170. We do now have a upper trend line for a rising wedge which is a bearish pattern and possibly the B to our ABC. I think the target for C will be somewhere between the .5 and .618 of the overall weekly 5 wave from around 40 cents (see a log chart) and will form the weekly wave 2 of a weekly super cycle.
It is also possible that my count is off and that we are entering a wave 5 now. I will be keeping an eye on this rising wedge.