Analysis based on elliott wave; demand/supply area; price ranges; and fib lines.
Coming to the end of the B wave correction and moving towards a huge demand area - it seems like bears are losing steam but there's apt opportunity to take advantage of a final drop that'll test the S2 pivot; 0.168 fib; and large support area.
With Bearish divergences on lower timeframes, a movement down would complete the B wave (printing equal A and C waves) and find an area where bulls take control. Most importantly we can hopefully respect the pink curve that has brought us to this level to date.
Coming to the end of the B wave correction and moving towards a huge demand area - it seems like bears are losing steam but there's apt opportunity to take advantage of a final drop that'll test the S2 pivot; 0.168 fib; and large support area.
With Bearish divergences on lower timeframes, a movement down would complete the B wave (printing equal A and C waves) and find an area where bulls take control. Most importantly we can hopefully respect the pink curve that has brought us to this level to date.
Comment:
wouldn't be surprised seeing this...
Comment:
New curve; let's see how this holds.....
Comment:
Messy wave count but could well be a larger than anticipated wave B - in which we're entering the the third wave