Weekly Elliot Wave analysis of cable shows that we are in wave C, main point to understand when it ends. Brexit determines the end of the wave C. Unless the price closes weekly well above 1.28 and breaks the downtrend line, this remains wave C. Still, even with Brexit, price follows the wave psychology. For now outlook remains bearish until proven otherwise.
On daily wave C is also going in 12345 formation with an extended wave 3. If so then a bounce of the trend line and 1.28 level gives another short position, great RRR there.
We shall know more with crucial vote in House of Commons during week starting January 14.
Share your thoughts on cable!
On daily wave C is also going in 12345 formation with an extended wave 3. If so then a bounce of the trend line and 1.28 level gives another short position, great RRR there.
We shall know more with crucial vote in House of Commons during week starting January 14.
Share your thoughts on cable!