$JSEMTN - MTN: 7753 Invalidated, Now What?
See link below for previous analysis.
7753 cps eventually gave way triggering an update of the wave count.
I have shifted the terminal wave E of the (B) wave triangle and I an now counting the sell-off from 14289 cps as an ending diagonal/falling wedge.
I maintain that a bottom is near and I will monitor price at the low trendline of the wedge.
The MACD is still giving a bullish convergence signal, indicating that selling momentum is weak.
I am neutral at this juncture as it is a bit late to be bearish.
7753 cps eventually gave way triggering an update of the wave count.
I have shifted the terminal wave E of the (B) wave triangle and I an now counting the sell-off from 14289 cps as an ending diagonal/falling wedge.
I maintain that a bottom is near and I will monitor price at the low trendline of the wedge.
The MACD is still giving a bullish convergence signal, indicating that selling momentum is weak.
I am neutral at this juncture as it is a bit late to be bearish.
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