- Extended correction through an ABCDE wave pattern.
- Charts still as 55 is above the other EMAs on 3h timeframe. Price trend also well below 55 .
- RSI is also downtrending making lower highs.
- Continued pressure across the stock market (i.e. Dow Jones Index is still looking to correct further)
- Keep a close eye if it breaks down further. Possible buy zone at the previous low of $16.53 and 0.618 fib level (i.e. $14.86)
- A significant break above $20.28 and 55 support would be good indication of an uptrend to a possible impulse wave.
For informational purposes only and not deemed as financial advice.