yesterday I posted the correctional wave scenario for TOTAL2, please check out the attached TA.
Here I project a possible impulse wave scenario for alt cap. Lets assume that the former orange trend is now our resistance, the market has shifted in a slower paced uptrend (violet dashed line) and just started wave III. Confirmation might be created by breaking the grey downtrend with a solid close above it. As always a retest of the former resistance will fortify the projected price action. A bullish pattern that might form, is the W created by B -> C -> I -> II ?-> III. The overall structure forms some kind of pennant, but I don't like its structure nor the time-frame.
As always this is not a direct advice concerning your asset management.
Trade safe Nik
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Lets see if the retest is one, breaking the grey line downwards implies that wave C of the attached bearish analysis has become much more plausible.