AMD Update
If you recall, I've mentioned in my recent posts that ideally, we should hit the purple 0.618 at $153.08 for mini-wave b before climbing higher in mini-wave c of B. Last week, that's precisely what occurred. We hit the purple 0.618 and then quickly moved up. Whether mini-wave b is complete remains to be seen. We could still technically drop to the 0.786 area. Once price surpasses the high made on May 28 at $174.54, I will consider mini-wave b definitively over.
With all this in mind, it seems we should be heading towards the target box. The target zone ranges from the 0.618-0.786 retracement fibs between $189.48-$205.27. See the orange fibs? These are the extension fibs if the mini a-b pattern is complete. Look at where the 1.0-1.382 extensions end. Is it a coincidence or the perfect setup? Only time will tell, but I am optimistic about how this pattern is unfolding. I anticipate that this c of B should take about 3-4 weeks to complete.
With all this in mind, it seems we should be heading towards the target box. The target zone ranges from the 0.618-0.786 retracement fibs between $189.48-$205.27. See the orange fibs? These are the extension fibs if the mini a-b pattern is complete. Look at where the 1.0-1.382 extensions end. Is it a coincidence or the perfect setup? Only time will tell, but I am optimistic about how this pattern is unfolding. I anticipate that this c of B should take about 3-4 weeks to complete.
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
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