OMG: Wolfe Wave geo

Possible last leg down for OMG

Pattern suggests a WW geo.

- Target is point 5 of line 1-3.
- Point 5 can act as a strong support and reverse.
- Once point 5 is reached, new target will be line 1-4

Comment:

Nevertheless an expanding correction Elliott wave is likely

expanding correction Elliott wave: www.elliottwave.net/...ictenets/basics3.htm

Comment:

OMG reversed at big support 7.62

bullish expanding correction Elliott wave looking good.
www.elliottwave.net/...ictenets/basics3.htm

Watch out for resistance MA100.

Comment:

Everything seems to confirm an expanding correction Elliott wave: www.elliottwave.net/...ictenets/basics3.htm

Update: OMG is now testing MA50.

Resistance at MA100 and 11.40 before new strong bullish movement

Comment:

Bulls are back.

Comment:

Market consolidating above MA100. Bulls still in control.

Comment:

As expected an expanding correction Elliott wave is ongoing.

target 1: 16usd

Comment:

From the aboce picture we can see the daily MACD crossing.

Price bounced from 4hr - MA100

Comment:

As drawn above OMG corrected after hitting resistance at 11.40.
Now bouncing from 1hr - MA50

Bulls are controlling the market - expanding correction Elliott wave is ongoing

OMG eyes 16 usd

Comment:

OMG sitting on MA100. Possible new bullish movement.
expanding correction Elliott wave still in place

target 16usd

Comment:

OMG sitting on MA100 and support trend.

Comment:

OMG in a critical last support. OMG seems to have failed to stay above MA100 and now is trying to bounce off trend support.
Failing here will be necessary to look for lower supports as in pictures and daily MA100.

Also MACD not looking good. Crossing 0