SBO Bottoming Outlook

After the bottoming of 37.66 in August 2024 the market went sluggish, but it maintained a bullish swing where rising bottoms were exhibited. A rounded bottoming pattern presented itself with a divergence showing towards the current recent low 48.27 and MACD is moving into positive territory suggest upside potential.
Leaning on the wave principle, wave c is likely in the making toward the prior wave b (yellow) as an objective.
Support from the rounded bottom formation together with the wave count mitigate a firmer market in the months ahead.