Hello Traders,
Looking at the chart for Inland Homes PLC we can see a nice set of Elliot waves and price looks to be somewhere in the middle of a wave 5. A rising wedge has formed with bearish divergence on the weekly RSI so we could see a small pullback here into the green box before a move up. I have used the fib extension tool from wave 1 to give a set of possible targets for wave 5. I'm not entirely convinced that overhead trend line has much weight to it but I have put it in anyway.
Looking at the chart for Inland Homes PLC we can see a nice set of Elliot waves and price looks to be somewhere in the middle of a wave 5. A rising wedge has formed with bearish divergence on the weekly RSI so we could see a small pullback here into the green box before a move up. I have used the fib extension tool from wave 1 to give a set of possible targets for wave 5. I'm not entirely convinced that overhead trend line has much weight to it but I have put it in anyway.
Comment:
Here is a better view of that rising wedge with bearish divergence on the weekly.
