MYEG IN EW ABC CORRECTIVE ZONE IN DAILY AND FIBO50 IN WEEKLY

28 Tem 2022

One can consider to take a long position on MYEG where it is spotted rebounding from 52-week low in EW ABC corrective zone where it has completed the 5 sequence. if seen in weekly chart, the said rebound is actually at fibo50, where the last candle is a hammer, further indicating a high reversal potential. Retracement EP shall be at 0760, which is fibo618 in 15-minute time-frame. TP at any fibo levels in daily chart and CL below 0730 which is the 52-week low.