$COMM Bounce Imminent and Target

$COMM is interesting to ponder. I see only three waves up from the crash lows. That could make this a four, but it looks too deep, and swift for that. It looks more like a 2. It looks like five waves down in this move so far, so it may be only halfway through, though its depth may mean that it is complete. At any rate, the diverging lows suggest that this move is finishing here. On any interpretation, we should at least see a good relief rally soon heading toward the orange box above us.


[UPDATE]: This failed to produce the rally I had expected and has since fallen deep enough that I also doubt the count I had provided for it. I will file this under “Unsuccessful Calls.” I will need to monitor the price action from here prior to making a new call.


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