Elliott Wave scenario. We saw a classic ABC correction from all time high and now a possible 12345 impulse to the $50 resistance.
Will we get rejected again to re-accumulate or will the market stay hot and pull us through to make $50 range the new support?
In theory the 3rd wave is always the longest and since 5th is weaker we won't have enough momentum to break through $50 (short term) 🤷♂️
Will we get rejected again to re-accumulate or will the market stay hot and pull us through to make $50 range the new support?
In theory the 3rd wave is always the longest and since 5th is weaker we won't have enough momentum to break through $50 (short term) 🤷♂️
Nice looking cup & handle may play out also for a more bullish scenario.