The price low occurred at 11 3/8, which would negate the possibility at this point of a reverse H&S. However, if one counted 11 5/8 as the low it seems there could be a reverse H&S. 11 13/16 bottom of left shoulder, 11 5/8 the head, and 12 3/8 the bottom of the right shoulder. What do you think?
This would project the price to be 16 7/8(measured in price terms), which coincidentally or not is right near where the next gap is around 17 even though the gap there is only 1/16 point. If this occurred and the price then went back to the neighborhood of 14 3/4 a reverse H&S would potentially be set up with 11 3/8 as the head and 14 3/4(or thereabouts) as the two shoulders.
If this occurred that would project the price to go to the area of the previous 4th wave in Elliott terms on the monthly chart. This area would be another pausing point if a major low has been seen, or a possible top if this is only a short term rally.
Overall,at this point I think a major low has been seen and the price should go to the twenties in the summer before stalling out for several months(about 5) before the advance resumes again.
In the third paragraph where I said " If this occurred that would project the price to go to the area of the previous 4th wave", that was wrong. I did the math wrong. I do think the price will pause at the previous 4th wave, but the reverse H&S I described does not project the price to go there.