PROG Reversal A bullish reversal propelled by a bullish divergence on the MACD
Price will likely continue up to the top of the wedge, and then continue the downtrend.
This is just a temporary bullish time.
Progeny
Progeny for more offspring in the red. PROGHere, believing to be viewing the zigzag post latest impulse and we may just endeavor upon Wave C. Clearly back out of overbought territory, bearish by itself. We are looking to Fibonacci to chart some possible goals here.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
