Long term outlook on monthly chart shows that the price action is on a major correction.
The highs and lows inside the correction area look like this
This could be a triangle
OR
A flat
OR
Based on momentum of price action, the chart could be resolved as
If the running flat was predicted correctly then the next motive wave to the upside should be faster than the previous motive wave.
Major area of consolidations in wave C of the running flat are spotted in red boxes were resistance can be expected in future.
Accordingly the short term forecast is as follows
The highs and lows inside the correction area look like this
This could be a triangle
A flat
OR
Based on momentum of price action, the chart could be resolved as
If the running flat was predicted correctly then the next motive wave to the upside should be faster than the previous motive wave.
Major area of consolidations in wave C of the running flat are spotted in red boxes were resistance can be expected in future.
Accordingly the short term forecast is as follows
