The price action seems to be at the start of wave 5 out of the Elliott wave analysis.
The 200-month appears to be acting as major support.
The conflux of the 200-day and 200-week, which is close to the 23.6% Fibonacci retracement level might act as a key indicator of upside price potential.
Wave 5 begins after the completion of Wave 4, which is a corrective wave. Wave 4 typically ends without moving into the price territory of Wave 1, adhering to one of Elliott's key rules.
Wabe 5 is often driven by a strong sense of euphoria or "herd mentality" among investors. It is a period where the prevailing trend is embraced by the majority, sometimes ignoring underlying fundamentals.
The 200-month appears to be acting as major support.
The conflux of the 200-day and 200-week, which is close to the 23.6% Fibonacci retracement level might act as a key indicator of upside price potential.
Wave 5 begins after the completion of Wave 4, which is a corrective wave. Wave 4 typically ends without moving into the price territory of Wave 1, adhering to one of Elliott's key rules.
Wabe 5 is often driven by a strong sense of euphoria or "herd mentality" among investors. It is a period where the prevailing trend is embraced by the majority, sometimes ignoring underlying fundamentals.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.