On the way to 62k - Leg 3 of the Elliott wave
Oh boy, how wrong was I with my last bottom forecast? It went down another 7k roughly. I should have known it considering that I have seen that before, especially at the March correction. (yellow ellipsis).
Anyway, we have now a new support line and the old support could be new resistance (dashed line). In this case, we will bounce off around 62k. If it breaks we could go as high as 70k towards the old resistance (magenta line)
Anyway, we have now a new support line and the old support could be new resistance (dashed line). In this case, we will bounce off around 62k. If it breaks we could go as high as 70k towards the old resistance (magenta line)
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