Just completing a final wave 5?
I was thinking for a long time that this upwardswave (sinds december) could have been a wave 4, until this became invalidated.
Therefore I believe we could be in an wave 4/begin of wave 5 of a bigger wave 5.
I don't think this will go much higher than the ATH, as the oscillators are pointing more towards oversold conditions.
Therefore I believe we could be in an wave 4/begin of wave 5 of a bigger wave 5.
I don't think this will go much higher than the ATH, as the oscillators are pointing more towards oversold conditions.
Note
The lines are more general ideas of a direction, no specific targets. Although a double top at the ATH could be possible.
This idea will be invalidated when the current levels turn out to be a quadruple top, reversing to sub 2600's levels.
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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.