See link below for previous analysis.
The larger structure wave count for Northam is a bit tricky with a couple of probable counts.
Looking at the decline from 21246 to 9482, I see a five wave decline with overlaps hence I am updating the count as a leading diagonal or alternatively an ending diagonal.
A break below 9482 will confirm the leading diagonal which implies more downside.
I do not have much conviction that a bottom is in at 9482 so I will sit on my hands for now.
The larger structure wave count for Northam is a bit tricky with a couple of probable counts.
Looking at the decline from 21246 to 9482, I see a five wave decline with overlaps hence I am updating the count as a leading diagonal or alternatively an ending diagonal.
A break below 9482 will confirm the leading diagonal which implies more downside.
I do not have much conviction that a bottom is in at 9482 so I will sit on my hands for now.
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Related publications
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.