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(Elliott Wave) Double zigzag correction is just half way in
Global inspection suggests that correction (monthly timeframe) has not yet reached even the minimum targets (marked with red lines on a logarithmic scale).
Local inspection suggests that correction is emerging in a double zigzag formation:
- First zigzag (W) reached the lowest point of $0.262
- Right now ugly wave (X) is forming (retraced 0.618 of wave (W))
- Expecting one more zigzag (Y) with least the same length of wave (W) potentially reaching $0.18 (aligns with weekly 50 EMA) with an on the way pullback near $0.28 (aligns with daily 200 EMA).
Local inspection suggests that correction is emerging in a double zigzag formation:
- First zigzag (W) reached the lowest point of $0.262
- Right now ugly wave (X) is forming (retraced 0.618 of wave (W))
- Expecting one more zigzag (Y) with least the same length of wave (W) potentially reaching $0.18 (aligns with weekly 50 EMA) with an on the way pullback near $0.28 (aligns with daily 200 EMA).
Aviso legal
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