The price action is at the top of wave 5 out of the Elliott wave analysis.
Furthermore, the overbought classification supports the fact of a temporary correction that might be on the table.
Might we see a correction unfolding back to this 23.6% Fibonacci retracement? This level is around $89.
This level overlaps with the black dotted trendline.
Furthermore, the overbought classification supports the fact of a temporary correction that might be on the table.
Might we see a correction unfolding back to this 23.6% Fibonacci retracement? This level is around $89.
This level overlaps with the black dotted trendline.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.