The CPI in the news tomorrow. If it is lower than expected, that might be a catalyst to push out of this triangle in wave 4 position.
The dashed line is a near term bearish trend. A break of this line, subsequent retest to reset the oscillators, and then a move into wave 5 with a length = wave 1, looks possible. This coincides with the completion of a bearish AB = CD.
I'm cautious in part b/c other elliot wave analysts see this current move as a corrective wave 4 in a longer term downward trend.
The dashed line is a near term bearish trend. A break of this line, subsequent retest to reset the oscillators, and then a move into wave 5 with a length = wave 1, looks possible. This coincides with the completion of a bearish AB = CD.
I'm cautious in part b/c other elliot wave analysts see this current move as a corrective wave 4 in a longer term downward trend.
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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.