After the recent moves, we appear to have finished with the short rally and now could be in an ABC correction, where C is playing out now with an assumption that there are 5 sub-waves within (orange) and after trying to cross the 50 Day MA @$125, the price is finding resistance and will go down to complete the 3rd wave whose target we are considering at 1.618 Fib extension of wave (1).
Final confirmation will come after we go below $120. Stop set at $127+ as above that this wave (blue) count gets invalidated.
All the best. Take Care
Final confirmation will come after we go below $120. Stop set at $127+ as above that this wave (blue) count gets invalidated.
All the best. Take Care
Trade closed: stop reached:
Stop hit
