Price had a strong rejection at the 61.8 Fib, and returned under the strong montlhy Resistance/support. I would expect to see a retest of either level before a drop that would target the W-formation's neckline.
Looking at the daily, the price remains in a strong downtrend, and could be in a possible b-wave of the ABC corrective waves.
I believe a reasonable target for the C-wave completion would be the previously made W-formation neckline.
Looking at the daily, the price remains in a strong downtrend, and could be in a possible b-wave of the ABC corrective waves.
I believe a reasonable target for the C-wave completion would be the previously made W-formation neckline.
Note
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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.