SUMMARY
Cybermiles (CMT) pegged the ABC correction and the C wave was the left wall of the rounded price formation. The Cup & Handle is also the pattern that seems to be complete. But is it confirmed? Well, price has broken out of the handle formation by breaching the upper white line. Is that bullish? Yes.
The right wall was built on an impulse of five waves (white). Since price has breached the handle formation, the blue impulse waves should be the next sequence. The red abc is a bit short and had not retraced even 0.38 Fib level, so that does leave open the potential for price come back and retrace deeper. The MACD has also turned up and this needs to continue (white arrow) in order to support the blue wave impulse sequence.
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