- We can see as follows that the IXIC has been following a comprehensive Elliot Wave movement respecting the weekly high and low Fibonacci levels
- We could see a move down towards $14 723 at the end of Q1 leading into Q2
- evidence to support this is the RSI movement
> Trading around overbought levels
> We can also spot an RSI bearish divergence on the daily, this is where the price increases as the RSI decreases, strength is decreasing as the price moves up causes it to loose steam for the upwards momentum
- A clear break and hold of the 0 Fib level will invalidate this movement
Have a great day,
Cheers
- We could see a move down towards $14 723 at the end of Q1 leading into Q2
- evidence to support this is the RSI movement
> Trading around overbought levels
> We can also spot an RSI bearish divergence on the daily, this is where the price increases as the RSI decreases, strength is decreasing as the price moves up causes it to loose steam for the upwards momentum
- A clear break and hold of the 0 Fib level will invalidate this movement
Have a great day,
Cheers