Huge rejection indicate that the bulls are facing a failure to breakout the upper resistance.
Wave B has completed with retracement of all the wave A. The wave B has retraced about 123% of wave A. That means wave C might not retrace the whole of wave B. If it does that the pattern would be irregular flat. wave C always ends with an impulse in a flat pattern.
A clear divergence on the RSI and MACD tells us a further downside.
Wave (2) is on the progress with the pattern likely to end with a flat pattern.
My view on this commodity is short term trade.
👀😃👍🏽My analysis could be wrong, and it is based on my own ideas. Any trade on this idea is strictly prohibited. DYOR. Please help me to boost my page. Any comment would be much appreciated. Cheers
Wave B has completed with retracement of all the wave A. The wave B has retraced about 123% of wave A. That means wave C might not retrace the whole of wave B. If it does that the pattern would be irregular flat. wave C always ends with an impulse in a flat pattern.
A clear divergence on the RSI and MACD tells us a further downside.
Wave (2) is on the progress with the pattern likely to end with a flat pattern.
My view on this commodity is short term trade.
👀😃👍🏽My analysis could be wrong, and it is based on my own ideas. Any trade on this idea is strictly prohibited. DYOR. Please help me to boost my page. Any comment would be much appreciated. Cheers