Observations:
Disclaimer
For informational purposes only and not deemed as financial advice
- Appears we have broken past 218 which means we have are likely in the midst of a 5 wave impulse.
- Based on 1:1 fib extension and resistance areas, the top may potentially be 250-255 range.
- Assuming that the top will be 250-255 range, we would have the ABC correction to bottom out at around 200-217 range.
- Watch for a bounce or break down while monitoring volume at the 0.5, 0.618 and 0.65 fib levels for potential entry points.
- Alternatively, if wave 4 breaks below 218 then this impulse wave is considered a failure. Perhaps the "Wave 1-3" shown is actually the end of the B wave of the larger ABC correction that was still in play?
Disclaimer
For informational purposes only and not deemed as financial advice
