The impulsive parish wave [A] that occurred in August 2024, originating from the 208.00 area, signals the beginning of long time corrective phase. Crucially, the red dashed line at204.00 area should hold for the next 5 years, with a potential retest of 2020 high at the 143.00 zone.
In the shorter term, correction wave [B] appears to have concluded at the 50% retracement level of 194.80. If correct, the start of wave [C] should lead to a rapid decline, with a potential retest of April 2022 high 168.50 zone.
Please note that this is subjective and complex and not to be considered as investment advice.
In the shorter term, correction wave [B] appears to have concluded at the 50% retracement level of 194.80. If correct, the start of wave [C] should lead to a rapid decline, with a potential retest of April 2022 high 168.50 zone.
Please note that this is subjective and complex and not to be considered as investment advice.
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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.
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.