Cosco Target 1.55......

The last round I updated this counter, I mentioned of its breaking of the wedge envelop and that it should be heading to 1.51 region. I have left it behind for a while and when I looked today, it has grown and is now resisted at 1.37 region.


Fig 1 Cosco Daily chart

Both indicators are heading south, with divergence. So I guess correction in inevitable. Yet amongst the negativities, it seems to be creating a flag (supported by the volume pattern). If base on this measurement, the target should be 1.55.

Would this happen? For the time being, I think it is around 60% chance of it mainly because the wave count seems to show it to be in a 4th wave of this entire move. May Cosco needs one more divergence before it is willing to come down.