US100 Weekly Projection: Elliot waves
Hi Everyone,
Just to share my weekly forecast for the US100. Overall, I think we have recently completed a diagonal wave 5 of Wave A. The diagonal is supported by 5 waves, and a "throwover". (Additionally, we are resting on daily 50 moving average, where typically we would expect a bounce).
During the next 1-2 weeks, I think we will see a B wave form towards the indicated sell zone (approx. 50-78% Fibonacci retracement levels). The CPI news may be a potential catalyst.
After this, I would expect Wave C down towards a new low in mid-September.
This analysis is void if wave A low is broken (15070).
Good luck!
Just to share my weekly forecast for the US100. Overall, I think we have recently completed a diagonal wave 5 of Wave A. The diagonal is supported by 5 waves, and a "throwover". (Additionally, we are resting on daily 50 moving average, where typically we would expect a bounce).
During the next 1-2 weeks, I think we will see a B wave form towards the indicated sell zone (approx. 50-78% Fibonacci retracement levels). The CPI news may be a potential catalyst.
After this, I would expect Wave C down towards a new low in mid-September.
This analysis is void if wave A low is broken (15070).
Good luck!
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