Elliott Wave Analysis
Updated
Looks like overnight trading completed what looks to be a nice 5 wave Elliot wave impulse Wave 1 on the hourly. I have place fib retracement levels for possible correction. I don't think it will go very deep. I think there are trapped sellers from yesterdays move that the big boys don't want to give a chicken exit to.
Trade at your own risk.
Trade at your own risk.
Note
Looking like a deep correction.Note
Price now at previous resistance. Unknown whether the move up continues as a Wave 3 impulse or it finishes as a B wave correction and will see a subsequent Wave C down for a flat correction.Note
Or alternatively, correction on an impulse wave down for more red
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