If you read my last post on Elliot wave theory- Than A is perfectly completed as expected- Currently my views are neutral and i am waiting for either signal for a possible trend,
On 4HR TF= Everything looks oversold and MACD and RSI might become bullish for short term .
I have show two target for either scenario. If we break the red 5560 support line- next move is to 5150.
If market reverses back- next possible target should be 5850-5900.
On 4HR TF= Everything looks oversold and MACD and RSI might become bullish for short term .
I have show two target for either scenario. If we break the red 5560 support line- next move is to 5150.
If market reverses back- next possible target should be 5850-5900.
Note
Support broken: might see a small pump to that red line but overall 5.25 would be my target.Note
Guys there is a good support at 5450. it did hold that. Each TF is super oversold. Just be cautious at opening another big short at this price.
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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.