Recent rejections at the highs have prompted a deeper analysis, and the findings are quite intriguing.
Based on a detailed wave review, there's a possibility we're currently trading within an expanded Wave B zig-zag pattern that has yet to find a bottom.
If this scenario holds and we see a break below the 83,000 support level, price could potentially decline toward the 74,517 area.
On the upside, resistance is observed at 86,506 and 85,493.
Based on a detailed wave review, there's a possibility we're currently trading within an expanded Wave B zig-zag pattern that has yet to find a bottom.
If this scenario holds and we see a break below the 83,000 support level, price could potentially decline toward the 74,517 area.
On the upside, resistance is observed at 86,506 and 85,493.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.