IHSG / COMPOSITE 5 wave rally ? (ELIOT WAVE)
First Opinion :
IHSG maybe going to higher price to 8k to complete the 5 wave rally eliot wave (now on phase 4)
the momentum indicator (stochastic) show the sign of bullish divergence. And if the price close higher on 31 oct 2024, there is a big chance IHSG making a bullish continue pattern (Penant).
But we must wait for the validity confirmation on Swing Low on 31 october 2024 (closing price), and the pattern penant must break the trendline (top) for validity.
Second Opinion :
Or IHSG will continue down to key area strong support and rejection at 7350-7400 before rebound to continue the higher price. Still 5 wave rally (eliot wave) in play (because i think IHSG now on phase 4 eliot wave)
DISCLAIMER ON
IHSG maybe going to higher price to 8k to complete the 5 wave rally eliot wave (now on phase 4)
the momentum indicator (stochastic) show the sign of bullish divergence. And if the price close higher on 31 oct 2024, there is a big chance IHSG making a bullish continue pattern (Penant).
But we must wait for the validity confirmation on Swing Low on 31 october 2024 (closing price), and the pattern penant must break the trendline (top) for validity.
Second Opinion :
Or IHSG will continue down to key area strong support and rejection at 7350-7400 before rebound to continue the higher price. Still 5 wave rally (eliot wave) in play (because i think IHSG now on phase 4 eliot wave)
DISCLAIMER ON
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