seasonality July 24th - Aug 3rd: -3.34% return
Elliott wave: Currently in a 5 wave correction, we either completed the wave 5 or we are currently in it. Expecting a rally either tomorrow or Wednesday to complete the B wave.
Structure: We just completed our first structure to the downside which tell's me there is now upside liquidity. We need to gap above $43.27 in order for longs to be in the equation. If we don't its gonna be hard for the bulls to take that level over.
If we don't gap above $43.27 its very possible we see new lows.
CHOCH @ $44.19
Look for support at the $42 and $41 level.
Short term: Down trend
Long Term: Uptrend
Stay blessed
Elliott wave: Currently in a 5 wave correction, we either completed the wave 5 or we are currently in it. Expecting a rally either tomorrow or Wednesday to complete the B wave.
Structure: We just completed our first structure to the downside which tell's me there is now upside liquidity. We need to gap above $43.27 in order for longs to be in the equation. If we don't its gonna be hard for the bulls to take that level over.
If we don't gap above $43.27 its very possible we see new lows.
CHOCH @ $44.19
Look for support at the $42 and $41 level.
Short term: Down trend
Long Term: Uptrend
Stay blessed