As part of the retracement wave (2) is not yet completed and the rally that we are experiencing is all part of the sub wave B of the second wave unfolding. Lower targets is highly possible
Note
Market has pushed towards 0.618 level of retracement (64,xxx), we are now expecting a move down towards a possible retracement on a lower degree around 61k area or another push to lower levels (59,xxx) to complete the wave (c) of wave (2).Note
Market has reached target areas for short term bearish price move. We are now looking for a bullish divergence to trigger the reversal towards higher degree bullish targets, please refer to higher degree analysis for long term targets.
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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.