radixvinni

FXMM could be building a bullish 5 wave, or is it really?

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MOEX:FXMM   None
FXMM continues growth after breaking 1220 resistance. It is building a bullish 5-wave pattern unless it breaks below broken resistance point (dotted red). The bullish momentum can mark the start of the new uptrend that can last for several years and most likely complete wave 5 at 1.618 fib level(1301.09). A bullish breakout above this level could see wave 6,7,8,9 push to the next Fib targets. The support zone 1114.4-1090 stays valid. We most likely will retest this levels if the Elliott Wave pattern breaks. I will recommend to buy a break to the upside, with profit targets based on structure support.
Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.