Looks like it completed Wave 3 of 5 downwards on the daily chart. Looking for a bounce potentially back up to 57.65 (50% retrace level of the recent move down) can go all the way to $60 as well and not violate EW rules
I don't expect it to get that high though, it will likely hit the 10dma IMO and turn down if this is truly bearish.
3rd wave was an $11 move, would expect it to be the 5th wave to be the same with commodities (Target $46)
I don't expect it to get that high though, it will likely hit the 10dma IMO and turn down if this is truly bearish.
3rd wave was an $11 move, would expect it to be the 5th wave to be the same with commodities (Target $46)
Nota
Bounce start this week after bottoming out at $50.60. I took a few stabs at a long but got stopped out (short leash as I'm worried about it continuing down).Nota
Got that big bounce back up to 50% retrace - $57.60 level. Now looking to see how much further the rebound goes before entering shortNota
Completely missed this one - went to the extremes testing $60-$61 level, slight overlap of waves, after testing resistance for a couple weeks this is now dropping. Will look to short on a bounce. Its now below all my support zones. $54 is the next area where there's a lot of support
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.