The BABA structure hints at a bearish corrective trend taking the form of a cycle triple zigzag w-x-y-x-z.
Actionary wave y has the form of a primary double zigzag Ⓦ-Ⓧ-Ⓨ. Whilst a second small intervening wave x is also a double zigzag.
Now the formation of the final actionary wave z is taking place. This will likely take the form of a primary standard zigzag Ⓐ-Ⓑ-Ⓒ.
The primary wave Ⓐ has the form of an impulse (1)-(2)-(3)-(4)-(5). Its end is expected near 49.00. At that level, unfinished wave z will be at 38.2% of wave y.
An approximate scheme of possible future movement is shown on the chart.
The second chart hints that the formation of the cycle intervening wave x is not completed. Here it will take the form of a double zigzag Ⓦ-Ⓧ-Ⓨ of the primary degree. The first two zigzag sub-waves Ⓦ-Ⓧ look finished.
Wave Ⓨ will take a standard zigzag structure of the intermediate degree (A)-(B)-(C), as shown in the chart.
Prices could move to 140.81 above the previous high of 126.39, marked by wave Ⓦ. At the level of 140.81, cycle intervening wave x will be at 38.2% of actionary wave y.
