Green Elliot wave trendline is fast moving
Yellow Elliot wave trendline is slow moving, consolidation
Red Elliot wave trendline is downtrend
Green circle areas indicate safer buy levels
Yellow circles indicate caution
Red circles are short/take profit area
Light Blue circle area should expect a large move either way depending on current trend
Yellow Elliot wave trendline is slow moving, consolidation
Red Elliot wave trendline is downtrend
Green circle areas indicate safer buy levels
Yellow circles indicate caution
Red circles are short/take profit area
Light Blue circle area should expect a large move either way depending on current trend
Commentaire:
A close above $58 is key in confirming a mark up in price action to the above channel.
Holding demand above the $48 area is needed to confirm the current Elliot Wave pattern. Is the demand fails at these levels the price action would most likely see and extension based moved from the highs back into the $43-$45 area