From an Elliott Wave standpoint, the structure appears highly promising. The current formation allows for two plausible interpretations: either the early stages of a strong impulsive wave, or a more measured diagonal unfolding at the cycle degree. A break below the red level would decisively invalidate this count
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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.