Highly likely we will get a move down, at least to Bollinger Bands 20 on weekly, as well as minimum 38% fibo retracement against the last bullish move.
Price has broken out of a linear regression channel, within which we have observed a whipsaw price movement, that is typical for waves B or X.
As an alternative option, the price action within the channel may be classified into a diagonal structure, making the whole move up a large zigzag. But, IMO, it is highly unlikely
Good luck!
Price has broken out of a linear regression channel, within which we have observed a whipsaw price movement, that is typical for waves B or X.
As an alternative option, the price action within the channel may be classified into a diagonal structure, making the whole move up a large zigzag. But, IMO, it is highly unlikely
Good luck!
