© Master of Elliott Wave Analysis: Hua (Shane) Cuong, CEWA-M
Details: The short-term outlook suggests that the recent completion of the 1-red wave and the initiation of the 2-red wave are underway, and it appears that the latter has just concluded. Maintaining price above the support level at 92.93 would be an initial advantage for this perspective. However, there is a need for a swift and strong price increase above the 97.63 level to clarify this perspective.
Invalidation point: 83.45
Confirmation point: 97.63
Details: The short-term outlook suggests that the recent completion of the 1-red wave and the initiation of the 2-red wave are underway, and it appears that the latter has just concluded. Maintaining price above the support level at 92.93 would be an initial advantage for this perspective. However, there is a need for a swift and strong price increase above the 97.63 level to clarify this perspective.
Invalidation point: 83.45
Confirmation point: 97.63
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