Sui's correction completed & breakout from a reverse H&S
SUI’s been on quite the ride, and right now, it’s looking like we might be wrapping up this ABC correction. Here’s what I’m seeing:
5-Wave Downer (1-5): The market took a hit – we all saw it coming. Classic 5-wave impulse down. And now? We’re watching the recovery take shape in this ABC correction:
(A): The first bounce after hitting rock bottom. You knew that was coming.
(B): A bit of a fake-out, price dips again just to keep us on our toes.
(C): And now we’re pushing up toward the $1.65-$1.70 zone – the magic number that everyone’s watching.
Resistance Area: This $1.65-$1.70 level is like a wall. It’s been there before and could be again, so pay attention. If we smash through, we might be talking a move toward $2.00.
Upward Channel: Look at that beautiful rising channel we’re in. Price is climbing, but it’s at the top now. This is the part where things get interesting.
What Could Happen Next:
1. Breakout City: If SUI powers through $1.70, this thing’s got some legs. $2.00 and beyond is totally on the table.
2. Hard Pass: But if it gets rejected, brace yourself – we could see a dip back down to $1.20, testing that channel’s lower edge.
In a nutshell: SUI’s about to make a move. Keep your eyes peeled on the resistance zone. If it goes through, we’re in for a ride. If not, it’s time to buckle up for another drop.
5-Wave Downer (1-5): The market took a hit – we all saw it coming. Classic 5-wave impulse down. And now? We’re watching the recovery take shape in this ABC correction:
(A): The first bounce after hitting rock bottom. You knew that was coming.
(B): A bit of a fake-out, price dips again just to keep us on our toes.
(C): And now we’re pushing up toward the $1.65-$1.70 zone – the magic number that everyone’s watching.
Resistance Area: This $1.65-$1.70 level is like a wall. It’s been there before and could be again, so pay attention. If we smash through, we might be talking a move toward $2.00.
Upward Channel: Look at that beautiful rising channel we’re in. Price is climbing, but it’s at the top now. This is the part where things get interesting.
What Could Happen Next:
1. Breakout City: If SUI powers through $1.70, this thing’s got some legs. $2.00 and beyond is totally on the table.
2. Hard Pass: But if it gets rejected, brace yourself – we could see a dip back down to $1.20, testing that channel’s lower edge.
In a nutshell: SUI’s about to make a move. Keep your eyes peeled on the resistance zone. If it goes through, we’re in for a ride. If not, it’s time to buckle up for another drop.
Penafian
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