© Master of Elliott Wave Analysis: Hua (Shane) Cuong, CEWA-M.
The broader context suggests that wave (iv)-purple continues longer than expected, pushing lower, looking for targets around the 2260 area.
The short-term outlook shows that the x-blue wave recently ended, and the y-blue wave is opened to push lower, while price sustaining below the 2317 resistance level is a significant advantage for this outlook. Rising higher shows the opening of wave ((4))-red, and wave ((5))-red will then continue to push lower.
Invalidation point: 2364.4
The broader context suggests that wave (iv)-purple continues longer than expected, pushing lower, looking for targets around the 2260 area.
The short-term outlook shows that the x-blue wave recently ended, and the y-blue wave is opened to push lower, while price sustaining below the 2317 resistance level is a significant advantage for this outlook. Rising higher shows the opening of wave ((4))-red, and wave ((5))-red will then continue to push lower.
Invalidation point: 2364.4