We have a extended wave [3], so we did not see the deep correction, which many were waiting for. We can continue the rally directly from the current prices, as the structure of the w-x-y correction is, in principle, considered complete. However, there is a possibility to correcting a little more, or to form a triangle a-b-c-d-e (less likely, since the triangle was observed in the wave [2], interleaving, etc). Anyway, we remain within the boundaries of the ascending channel.
Targets: 10150-10950
Below I present a detailed analysis of the current correction.
There is a possibility of slightly descending for a more precise formation of the wave (c) of y.
Targets: 10150-10950
Below I present a detailed analysis of the current correction.
There is a possibility of slightly descending for a more precise formation of the wave (c) of y.
Trade active
A good way out of the triangle formed by the correction w-x-y.In the current situation, correction to ~9450 would look good, with a further increase to 10100, which in the future could well create opportunities for significant growth. However, I will not guess.
Note
A little did not reach the target.In general, the wave [5] of (1) can be considered complete. At the moment, we have a five down with a breakdown of the lower trend. In general, I expect a decrease to 8800, or even 7800. In the very short term, a slight rebound to 9600 is possible with trading under the trend.
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Related publications
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.