Hi
The Chart is self explanatory.
The 5th Wave is the largest one, & as per the Elliott Waves theory, if the 5th Wave is the largest, it retraces up to 61.8% of the 5th wave.
The target at 61.8% comes to 8900.
As per me the Wave started from early 2012 and completed recently in 2019 July, so it took almost 7 &1/2 years for the completion of the big wave. So it might take around 3+ years for this down wave to complete.
The Chart is self explanatory.
The 5th Wave is the largest one, & as per the Elliott Waves theory, if the 5th Wave is the largest, it retraces up to 61.8% of the 5th wave.
The target at 61.8% comes to 8900.
As per me the Wave started from early 2012 and completed recently in 2019 July, so it took almost 7 &1/2 years for the completion of the big wave. So it might take around 3+ years for this down wave to complete.