$JSEAGL - Anglo American: Stock At A Critical Juncture At 51000
The last analysis on AGL was on the 23rd of February 2023, link below.
The stock has traded lower since the last analysis and has prompted an update of the wave count.
The decline from 77318 has been strong with very shallow and brief pullbacks.
I am labelling the decline in a tentative manner to accommodate both the corrective ABC and an impulsive I-V scenario.
If the bulls are going to takeover again, they need to defend 54100 as a break below this level will confirm the sell-off as a five wave impulse.
I will be watching price action around 54100 closely.
The stock has traded lower since the last analysis and has prompted an update of the wave count.
The decline from 77318 has been strong with very shallow and brief pullbacks.
I am labelling the decline in a tentative manner to accommodate both the corrective ABC and an impulsive I-V scenario.
If the bulls are going to takeover again, they need to defend 54100 as a break below this level will confirm the sell-off as a five wave impulse.
I will be watching price action around 54100 closely.
