Based on the chart analysis, the following observations can be made:
A double correction in the form of a wxy pattern was completed near the price level of 49,650 on August 14, 2024.
Subsequently, Wave 1, consisting of five subdivisions, was completed.
Wave 2 concluded on September 9, 2024, at a price level of 50,370.
A smaller degree five-wave pattern was completed on September 11, 2024, with a price level of 51,420.
Currently, it appears that we are in the third wave on a smaller time frame, with support at 51,754. Given the current trajectory, the price level of 52,639 may be achieved soon.
Disclaimer: This analysis is based on historical price data and technical patterns and is for informational purposes only. It does not constitute financial advice or a recommendation to buy or sell any securities. Please consult with a financial advisor before making any investment decisions.
Regards
A double correction in the form of a wxy pattern was completed near the price level of 49,650 on August 14, 2024.
Subsequently, Wave 1, consisting of five subdivisions, was completed.
Wave 2 concluded on September 9, 2024, at a price level of 50,370.
A smaller degree five-wave pattern was completed on September 11, 2024, with a price level of 51,420.
Currently, it appears that we are in the third wave on a smaller time frame, with support at 51,754. Given the current trajectory, the price level of 52,639 may be achieved soon.
Disclaimer: This analysis is based on historical price data and technical patterns and is for informational purposes only. It does not constitute financial advice or a recommendation to buy or sell any securities. Please consult with a financial advisor before making any investment decisions.
Regards
Note
It hit the target of 3rd
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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.
Related publications
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.