We were expecting a recovery here, but I am not satisfied with the depth of it right now, particularly when RSI has not produced a Negative reversal. I would prefer to see a larger pullback before committing to the downside …
With current price action and from looking at the RSI I dismissed the red count which was looking for a lower degree one two of wave v. Instead I would count v as in place, expecting the correction to still …
So far prices found resistance at the lower boundary of the red channel and moved a little further into the blue rectangle, the 50 to 62% area of the red count potential ((i)). Both counts – red one with potential …
From the look I dismissed the red triangle count which was looking for a top for potential d. RSI already penetrates the uptrendline and the MA from above. Still the upper boundary of the corrective channel could attract prices. Critical …
The black micro triangle count got dismissed, because the level of critical resistance at 2.726 got penetrated. Whilst the red count stays intact I altered the black count into a potential Micro ((wxy)) for b. Both counts expect prices to …
As expected for both counts and from the DMI plus two MA’s strategy I showed on Thursday, prices went higher. So far both counts stay valid: red count looking for a potential minute ((ii)) and black count looking for higher …
RSI in the 6hr chart shows a divergence and prices made a new low. The RSI found support slightly below the 30. It is possible that v is not yet in place. If prices continue going higher 192.980 is critical …
Black and red count stay valid. The potential red diagonal count I showed on Tuesday got dismissed. But potential red v equals potential red i and the current low could work as red (v) of ((i)) in place – now …
With prices printing below 190.60 the abc count got dismissed and I updated the i-v count (now black count). Wave iv retraced 38% and RSi – which prints in a bearish range – shows a negative reversal Sarah
Prices made a new high meaning that potential black count micro ((c)) or red Subminuette wave d of the triangle was not yet in place. Until the top at 2.726 stays resistance both counts are valid.