A leading diagonal is forming which will bottom around 3000 (teal line). A rally up to 4500-5000 should follow in the form of a corrective wave (2).
An alternate count has us in an irregular flat (yellow line), which should also terminate in the 4500-4700 range.
According to Elliot Wave Theory, after a leading diagonal or an irregular flat (in wave 2) the third impulse wave will be extended and will most likely terminate below 2000 in our case.
Any information represented here is my opinion only and not intended to be used for financial gain. None of the information posted here is to be considered financial advice. Information posted here is strictly for entertainment purposes only. Please consult your financial professional before making any kind of investment. Investments can be very risky and any investor should educate themselves before investing by enlisting the help of a licensed financial professional. Past results are not indicative of future results in any construable way.
An alternate count has us in an irregular flat (yellow line), which should also terminate in the 4500-4700 range.
According to Elliot Wave Theory, after a leading diagonal or an irregular flat (in wave 2) the third impulse wave will be extended and will most likely terminate below 2000 in our case.
Any information represented here is my opinion only and not intended to be used for financial gain. None of the information posted here is to be considered financial advice. Information posted here is strictly for entertainment purposes only. Please consult your financial professional before making any kind of investment. Investments can be very risky and any investor should educate themselves before investing by enlisting the help of a licensed financial professional. Past results are not indicative of future results in any construable way.
