is moving in a corrective structure (triangle) clearly in the 4rth wave of an elliott
cycle. In the chart we can see a pending bearish bat
pattern with D point at the upper trendline
of the triangle. In addition we have a wxyxz completion in this corrective structure.
For profit targets we can aim for the lower trendline
of the triangle which gives us an excellent risk/reward ratio but we may see price breaking that support level
and moving more to the down.
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