US500 CONSOLIDATION
From 3502-3928-3705-4180= ABC (670PTS).From 4180-3789=5(a) then the sideways consolidation between 3800-3900(range bound) can be counted as abcde, or abc.
From around 3820 price has broken out above 3900 and Friday's high at 3928.00, all of this consolidation could be an (a) of the B wave or it gets higher to 3985-4030 price zone then consolidates for a (b) of B WAVE... lets see where markets decide to complete.
Upside RESISTANCE = 3985-4030 starts consolidation and lower to within the channel 3900-3800, and a break lower below 3789 then expect lower Support zone= 3685-3540
4180-3789=400pts then if resistance zone = 3985-4030 then 4030-400=3630 or 3985-400=3585 where C=A 100
My Labelling could be out of sync which is possible therefore I use a combination of technicals to make my analysis.
This is not trading advice it's my view of what I see.
Have a great weekend.
From around 3820 price has broken out above 3900 and Friday's high at 3928.00, all of this consolidation could be an (a) of the B wave or it gets higher to 3985-4030 price zone then consolidates for a (b) of B WAVE... lets see where markets decide to complete.
Upside RESISTANCE = 3985-4030 starts consolidation and lower to within the channel 3900-3800, and a break lower below 3789 then expect lower Support zone= 3685-3540
4180-3789=400pts then if resistance zone = 3985-4030 then 4030-400=3630 or 3985-400=3585 where C=A 100
My Labelling could be out of sync which is possible therefore I use a combination of technicals to make my analysis.
This is not trading advice it's my view of what I see.
Have a great weekend.
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