Minor support at 93.75 has to my surprise been able to protect the downside for an extended wave c of iv. This wave iv correction looks like a child fractal of wave 4 and if this is the case we should expect this correction to drag out in time and likely also extend a Little more price-wise towards 97.50.
Longer term I'm still looking for one last decline towards the ideal target of 88.53.
Hi Ews
ReplyDeleteI was a bit surprised to see that price did not fall off from 9500 area. The retrracement is getting deep but I am still looking for a fall to at least 8800. So for now it is a waiting game. Thanks for your analysis
Hi Olu,
DeleteI too was suprised, that minor support at 93.75 was able to protect the downside.
Yes it has become a waiting game, but even if we already has seen a wave v low at 91.25 we should see a Deep wave ii enabling us to get in nicely.
Kind regards
EWS