UUUU update - Terrible time for shorts
Updating my chart as it seems to be followed by a few lately and has proven accurate since breakout in Nov..
We may see a quick (C) down to the confluence of support (Trend, Fib and MA) which would constitute a spike, though it may have enough buying buoyancy to be rather shallow.
Once correction is complete, this week will show the beginning of a W5 up to the $8 master resistance. It may get rejected there and correct up to 50% of the current 5 wave structure. That correction will be the LAST buying opportunity in UUUU/EFR
We may see a quick (C) down to the confluence of support (Trend, Fib and MA) which would constitute a spike, though it may have enough buying buoyancy to be rather shallow.
Once correction is complete, this week will show the beginning of a W5 up to the $8 master resistance. It may get rejected there and correct up to 50% of the current 5 wave structure. That correction will be the LAST buying opportunity in UUUU/EFR
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