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.
Comment:
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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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.