Caterpillar has successfully fallen below the $318.68 level, marking an important step in our primary scenario. There is a 32% probability that we have already seen the low of wave alt.IV in beige, which would allow the price to move directly above the resistance at $386.48 from here. However, due to the price structure, we assume that the regular wave IV in beige still requires a new low before the next rise is scheduled. Once this important bottom of wave IV is found, there is ample potential on the upside.
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📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
Related publications
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.