Elliott Wave in a chopping situation Long

COMMONWEALTH BANK OF AUSTRALIA.ASX

Description

⋅ Jul 29, 2020 8:14 AM

I think I can see Elliott Wave pattern but not sure how it's going to happen in current market situation.

I think the trend is still upwards (which is great) but for next few days price will swing between support & resistance 72.300 and 74.50.

since today's run was reasonably good after 5 days of price correction.

I would be keeping an eye on tomorrow's market situation especially how it opens and closes.

I think we should expect next bull run soon.

Comments

AsimMirza786

⋅ Jul 30, 2020 1:54 AM

2 hours since market has opened, doesn't look like much volume is coming in.
I think it's not a good sign for Bulls. let's see how price action move towards the support line.
I think if it comes down to support level at around 72.300 it would be a good opportunity to load up.