NOM finished 5th elliot wave. Strong move to the upside next.

We are already over 20% below the high of 4.80 which was set in January and the 5,C completion finished with a solid negative sentiment which even negated a quite positive news item the 17th of Feb.

As the 5th wave had a textbook finish with the C leg drawing down back to the fourth wave bottom we can consider the sellers now have emptied their pockets for this rally and a new strong move to the upside should ensue.

Targets of 5,5, 6,6, 8 and even 10 are now within reach within quite a short timeframe.