These next moves will be dictated by the PPI report,
If better than expected we have the Green scenario.
If its worse than expected we have the red scenario.
Elliot wave: Nothing has changed, I believe we are still in a wave 4 correction, with low volume. We hit the 38% fib level which is a very common fib level for wave 4.
We are showing signs of bearish divergence on the macd which could play out tomorrow or next week.
We are officially trading below the 200 ema.
If we break the ascending trend line it is highly likely we see new lows
Good luck yall
God bless
If better than expected we have the Green scenario.
If its worse than expected we have the red scenario.
Elliot wave: Nothing has changed, I believe we are still in a wave 4 correction, with low volume. We hit the 38% fib level which is a very common fib level for wave 4.
We are showing signs of bearish divergence on the macd which could play out tomorrow or next week.
We are officially trading below the 200 ema.
If we break the ascending trend line it is highly likely we see new lows
Good luck yall
God bless
Note
currently at critical supportNote
wave 5 in progress, if we break above 19, we will call this recent bottom wave 5
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.