If we try to include the five wave pattern of Eliott-Wave principle we can see that in relation with the CCI the peak of wave 1 is at 1285.
Therefore if the market respects the first rule of the Eliott-Wave principle then it should not pass 1285 in favor of the longterm downtrend.
First resistance is the key resistance at 1280
Second resistance is the Eliott-Wave Rule 1 : 1285
Therefore if the market respects the first rule of the Eliott-Wave principle then it should not pass 1285 in favor of the longterm downtrend.
First resistance is the key resistance at 1280
Second resistance is the Eliott-Wave Rule 1 : 1285
