🔄 Wave Structure Overview:
The market has formed a classic 5-wave Elliott pattern, suggesting potential for bullish continuation:
Wave (1): Sharp breakout to the upside, signaling strong buyer interest.
Wave (2): Correction phase – a healthy retracement after the initial impulse.
Wave (3): Rising wedge pattern, indicating bullish pressure but within resistance boundaries.
Wave (4): Deep correction, returning toward demand zones.
Wave (5): Expected bullish rally toward the target level of 3,365.266.
The market has formed a classic 5-wave Elliott pattern, suggesting potential for bullish continuation:
Wave (1): Sharp breakout to the upside, signaling strong buyer interest.
Wave (2): Correction phase – a healthy retracement after the initial impulse.
Wave (3): Rising wedge pattern, indicating bullish pressure but within resistance boundaries.
Wave (4): Deep correction, returning toward demand zones.
Wave (5): Expected bullish rally toward the target level of 3,365.266.
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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.