After strong decline from Y wave top at $141 towards a recent low of $16, there is good reason to expect some upward price action in context with the overall NEO wave count and the evident wave completion at the low of $16 where a triple zig zag was finished. We have formed a strong reversal structure; with an inverse head and shoulder pattern forming in which a break of the neckline can lead us towards the $30-34 area.
Please like and follow for more Advanced Elliot Wave Analysis!
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.