Based on the current market analysis, it appears that we are approaching the final phase of wave 5 in the Elliot Wave pattern, with indications pointing towards the completion of this wave through a blue-off top run in the upcoming days. Following this development, the Elliot Wave theory suggests that we may observe an A, B, C pattern down in the market.
It is important to note that while the duration of this downward trend is yet to be determined with certainty, it is anticipated that this bearish phase may persist until June or September of this year before any significant rebound can be expected. However, it is premature to make any conclusive statements at this point in time.
Looking at the Purple Level - 34230 as my main RS for this run upward.
It is important to note that while the duration of this downward trend is yet to be determined with certainty, it is anticipated that this bearish phase may persist until June or September of this year before any significant rebound can be expected. However, it is premature to make any conclusive statements at this point in time.
Looking at the Purple Level - 34230 as my main RS for this run upward.