We are in the final corrective wave of the bear maret.
The retrace from Monday's high perfectly tagged the 61.8% Fibonacci retrace at 3980 on Tuesday.
I am long at 3980, Target 4200, SL 3950. I anticipate a 3-wave Fib extension to 4200,minor pullback to 4100, before final wave to test August highs. I cannot see a path beyond these highs under current fundamentals.
The retrace from Monday's high perfectly tagged the 61.8% Fibonacci retrace at 3980 on Tuesday.
I am long at 3980, Target 4200, SL 3950. I anticipate a 3-wave Fib extension to 4200,minor pullback to 4100, before final wave to test August highs. I cannot see a path beyond these highs under current fundamentals.
Note
*Final corrective wave of the bear market rally.
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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.