GC1! The chart appears to depict a clear five-wave pattern: I, II, III, IV, and V.
Waves I to III show strong upward movements, indicating bullish sentiment.
Wave IV looks like it could be a corrective phase, with a potential dip before another upward movement in Wave V.
Support and Resistance Levels:
The horizontal lines around 2,800 and 2,575.3 indicate critical Fibonacci retracement levels (38.20% and 50%).
If the price approaches these levels during the correction, they could serve as support, making it a potential buying opportunity.
RSI Indicator:
From the bottom indicator (RSI), we can see fluctuations in momentum, which can aid in timing trades.
Look for interpretations of the RSI: if it trends towards the extremes (overbought/oversold), that could signal reversal points.
Future Projections:
Should the market respect the outlined support levels, Wave V could potentially push towards a new high above 4,000 as indicated by the upward projection.
Market Sentiment:
Overall, the pattern suggests a bullish outlook long-term, but caution is warranted during corrective phases as prices might retrace towards support levels.
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.