Bank of New York Indian ADR index

The Indian ADR index I discussed a few months back sports an ending diagonal long term. So far it fell in 3 waves, A-B-C and so the rally I think is mostly an X wave now near 78.6% of the fall. Bulls will hope that the ending is a running bullish triangle, but I think the pattern is corrective and so the next move should break the lower blue line when it starts.