As noted in the previous update, it's probable that we'll witness an upward retracement for the corrective phase of Wave D in this zig-zag pattern.
Presently, we've experienced a substantial pullback, prompting the initiation of a short trade position towards the lower levels.
This move is anticipated to breach the support, confirming the culmination of a peak in the overarching pattern. Resistance is identified at $43,745, with a target set at $41,435 to complete Wave D. Subsequently, I anticipate the price to rebound into the range during Wave E.
Presently, we've experienced a substantial pullback, prompting the initiation of a short trade position towards the lower levels.
This move is anticipated to breach the support, confirming the culmination of a peak in the overarching pattern. Resistance is identified at $43,745, with a target set at $41,435 to complete Wave D. Subsequently, I anticipate the price to rebound into the range during Wave E.
