According to the theory, the entire rebound looks like the ABC simple correction. Wave C could currently consist of five subwaves. Therefore, if the correction ends in the area of 50%, then there may be a return towards the lower limit in the upward channel. However, if the line through the lows were to be broken, another downward impulse could accelerate.
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
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