Assuming that from the low 1160, price action is forming a 5-wave Elliot's wave,
we have from wave 1 at 1160 to the end of wave 4 at 1446, an expansion of 288 points.
If wave 5 would assume a 1:1 ratio expansion of W1-4, then we would have price lifting off
288 points symmetric from the end of wave 4 at 1446
1446 - 1160 = 286 points. Approx. 288 units
1446 + 288 expansion = 1734 - TP
288 is the second square of 12 or 144 * 2= 288
First 144 expansion has exceeded since 1446 + 144 = 1590
2nd 144 expansion is moving in ratios and currently in the 0.577 / 0.618 ratio of 144
Thus,
144 * 0.577 = 83 units
83 units + 1590 = 1673 zone
144 * 0.618 = 89 units
89 units + 1590 = 1679 zone (Price currently moving within these 2 zones)
1696 and 1718 levels might offer medium term resistances.
1646 level might offer stronger support
we have from wave 1 at 1160 to the end of wave 4 at 1446, an expansion of 288 points.
If wave 5 would assume a 1:1 ratio expansion of W1-4, then we would have price lifting off
288 points symmetric from the end of wave 4 at 1446
1446 - 1160 = 286 points. Approx. 288 units
1446 + 288 expansion = 1734 - TP
288 is the second square of 12 or 144 * 2= 288
First 144 expansion has exceeded since 1446 + 144 = 1590
2nd 144 expansion is moving in ratios and currently in the 0.577 / 0.618 ratio of 144
Thus,
144 * 0.577 = 83 units
83 units + 1590 = 1673 zone
144 * 0.618 = 89 units
89 units + 1590 = 1679 zone (Price currently moving within these 2 zones)
1696 and 1718 levels might offer medium term resistances.
1646 level might offer stronger support