Noble's Third Wave Up

Three days ago, Noble broke its 6 months upper downtrend line for the first time, and out of the descending triangle formation, giving traders a very bullish signal. This could likely mean an end to the second wave down that has been present since March of the year, and going into the third wave up. The third wave of an Elliot wave pattern is never the shortest, and usually the longest. If this analysis holds true, then this could be actually an opportunity to buy into Noble.

Any break below 1.65 should be noted, as below this price Noble will fall back into the descending triangle, making the previous price upswing a false breakout. Feel free to drop a feedback on my analysis.