We have just finished the 4th wave and the 5th wave is upon us, I expect price to hit 1260, pullback a bit then go for the 1272 resistance to retest the long term trendline, this is the typical end game of a bearish bat pattern.
Note
Price is consolidating and formed 5 wave pattern, currently on Wave B, I expect Wave C to finish around 1239 on the lower trendline in this shallow downtrend, so its long at 1239 with a target 1260, then 1272.
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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.