A typical A B C price pattern is busy developing.
The ideal entry price is below and as close to 190.00 as possible.
The first target price is set at 231.00.
The second target price is set at 270.00.
The stop-loss price is set at 165.00.
Expect the price action to unfold over the next couple of months.
The price action seems to be busy with wave C: The third and final wave is another upward move that retraces the entire correction and ends at or near the previous high point of the overall downtrend. This wave can be caused by a variety of factors, including short-covering or a change in market sentiment back to bullish.
The ideal entry price is below and as close to 190.00 as possible.
The first target price is set at 231.00.
The second target price is set at 270.00.
The stop-loss price is set at 165.00.
Expect the price action to unfold over the next couple of months.
The price action seems to be busy with wave C: The third and final wave is another upward move that retraces the entire correction and ends at or near the previous high point of the overall downtrend. This wave can be caused by a variety of factors, including short-covering or a change in market sentiment back to bullish.