What the bears are seeing:
What the bulls are seeing:
It all depends on the next move up. It looks like a 50/50 situation, but the bulls have a slight advantage on this one, because the 5 waves down ended at the .618 retracement (wave 2 target) and created a bull wick, which is exactly what the bulls wanted to see... Stay tuned...
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DISCLAIMER: This post / analysis serves general information purposes only. I am not a financial adviser. The material in this post does not constitute any trading advice of any kind. This is just the way I see the charts and what my trading ideas are. I use chart pattern and Elliott Wave analysis for my trading ideas.
For full disclosure: The author of this post is holding positions in this market at the time of this post. Please conduct your own due diligence, if you plan to copy anyones investment decisions!
If you make any trades or investments after reading this post, it is entirely at your own risk. I am not responsible for any of your losses. By reading this post you acknowledge and agree that you will never hold me liable for any of your losses.
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Have a nice day :-)
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