Could be completion of an ABC correction at 5738.
Alternate is only wave 3 of impulsive move was complete (in red), if price turns up from the .382 level there could be a 5th wave and a new high.
There appears to be bearish divergence on daily timeframe so a new low may occur which would fit with the ABC
Alternate is only wave 3 of impulsive move was complete (in red), if price turns up from the .382 level there could be a 5th wave and a new high.
There appears to be bearish divergence on daily timeframe so a new low may occur which would fit with the ABC
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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.