The Price should correct up to the Bollinger Band middle, forming the B Wave.
Beware after that it is Possible that the Price forms the C Wave and corrects down further.
Beware after that it is Possible that the Price forms the C Wave and corrects down further.
Note
The Pattern has formed.We might go to or below 16400-16300 when we drop below the Price of around 17281, where we hit before.
Possible scenario is to go over to a 12345 Wave at around 16400-16300
and then continue the correction with an abc correction down to around 15660.
Note
Because of the RSI I believe a further movement like Possibility 1 is likely.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.