Bellevue Gold - chart indicates recovery after 30% dropBELLEVUE GOLD LIMITEDASX_DLY:BGLflyinkiwi10Hi, thanks for viewing. I'm going to look deeper into Bellevue and position myself for a significant purchase. But won't be buying just yet. So, some people see Elliot Wave as reading tea-leaves or goat entrails. But, it does help with market timing sometimes. It isnt everything. But, I find it helpful, especially when combined with 'coincident targets' using Elliot Wave, support and resistance, and RSI divergence. If the correction is an "A-B-C" three wave correction, the third wave, wave C is often the same length as wave A. RSI divergence, I look for three lower lows on the price chart, paired with three higher lows on the RSI the first two in the over-sold area and the third higher low fails to push into the over-sold RSI region / below 30. For these conditions, it appears one more drop seems warranted. But would have to look into the fundamentals, because the gold price just had its highest weekly close. It is hard to see it going lower in this environment without major cost-overruns / profitability challenges / technical mining bottle-necks. The red box denotes an area where I believe the Elliot wave rules have been breached. Normally Wave C would have five sub-waves. Wave (v) may unfold, but it looks to be the shortest of the three sub-waves if it reaches my blue box target. One EW rule is that wave (iii) may not be the shortest of the three, but it can be shorter than wave (i). In this bullish gold price environment, the 30% drop may not occur. Will have to look into it. For now, watching from the sideline. Good luck everyone.