Hard time getting past the resistance line.
Two possibilities:
- If price moves down after this ABC wave then the corrective move is not over yet (Meaning we haven't seen the bottom).
- If this ABC turns into an impulsive 5-wave then price can try for new ATH later. Needs to break resistance line soon for that to happen.
Be careful.
Two possibilities:
- If price moves down after this ABC wave then the corrective move is not over yet (Meaning we haven't seen the bottom).
- If this ABC turns into an impulsive 5-wave then price can try for new ATH later. Needs to break resistance line soon for that to happen.
Be careful.
Comment:
Quite the resistance it was. Important to stay above wave A or price will make new lows later this month.
Comment:
Wave A was good support. Price broke out of major resistance line and the ABC seems to turn into a 5-wave impulse move. Bull case stronger for buying dips.