Long term outlook on monthly chart shows that the price action is on a major correction.https://www.tradingview.com/x/yFKRtt8x/
The highs and lows inside the correction area look like this
https://www.tradingview.com/x/1P183Gt3/
This could be a triangle
https://www.tradingview.com/x/eh1GNpIQ/
OR
A flat
https://www.tradingview.com/x/948u0jhs/
OR
Based on momentum of price action, the chart could be resolved as
https://www.tradingview.com/x/Y10FGZA0/
If the running flat was predicted correctly then the next motive wave to the upside should be faster than the previous motive wave.
Major area of consolidations in wave C of the running flat are spotted in red boxes were resistance can be expected in future.
https://www.tradingview.com/x/5s34lfK9/
Accordingly the short term forecast is as follows
https://www.tradingview.com/x/Je79OTFK/
The highs and lows inside the correction area look like this
https://www.tradingview.com/x/1P183Gt3/
This could be a triangle
https://www.tradingview.com/x/eh1GNpIQ/
OR
A flat
https://www.tradingview.com/x/948u0jhs/
OR
Based on momentum of price action, the chart could be resolved as
https://www.tradingview.com/x/Y10FGZA0/
If the running flat was predicted correctly then the next motive wave to the upside should be faster than the previous motive wave.
Major area of consolidations in wave C of the running flat are spotted in red boxes were resistance can be expected in future.
https://www.tradingview.com/x/5s34lfK9/
Accordingly the short term forecast is as follows
https://www.tradingview.com/x/Je79OTFK/
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.
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.