Our 1-5 impulse waves appear to be done and we are now facing resistance at 200 EMA (pink). Also this top is 2.618 Fib extension of wave (i). 5 impulse waves are usually followed by an ABC correction.
Note how 4th wave got support from 100 EMA (purple)
Note how 4th wave got support from 100 EMA (purple)
Comentarios:
I sub divided the 5th wave into 5 sub-waves, although the price went beyond 200 EMA, it looks like the stretch is over
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That was indeed the top, here is a possible ABC correction with Fub levels acting as support and resistance
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Our chart yesterday was about 3rd wave ending and not the 5th wave. The 5th wave appears to be done now
Comentarios:
ABC appears to be done looking at the sub-waves. Also 0.618 Fib level is a good place to turn around
