RE: Time for Charts, retrace of 61.8% today1 Jul 2020 13:17
MasterRSI, just to clarify your chart that this is not a valid rising wedge as the trend lines might imply to some . That would be a bearish pattern but it is invalid due to many points - all waves should be 3 wave structures which does not apply starting with a clear impulsive 5 wave, then A wave should be the longest compared to the B in time which also does not apply.
I count this that we completed wave 1, then wave 2 as an ascending triangle in 5 corrective waves. Now we are in larger Wave 3, only completed sub-wave1 with breaking that larger resistance and retesting from the top with w2 correction that can probably range for a few more days between 3,8 and 3,2p before it goes up to the 5-7p levels.