So the Morning star is firmly in place and all we can talk about is resistance levels now--- whether it would be 5870 or 5925 before a sizeable dip begins --nobody can know/say
.png)
The chart above shows we are in AB but this AB is retracing which XA??
Is it retracing XA=6229-5683
or XA=6132-5683
or XA=5973-5683 ???
Let me take it as the smallest degree XA= 5973-5683=290
then AB =max. 0.786x290=228 targeting 5911
and from around this level we can see a sizeable dip (equaling 50%-78.6% of upmove from 5683).
Alternatively, I would be eyeing the two trendlines shown on the chart above and marked T1 & T2 along with RSI-14 in Hour chart going into overbought zone and start showing negative divergence.
Above moves should suffice for tomorrow's projections
.png)
Is it retracing XA=6229-5683
or XA=6132-5683
or XA=5973-5683 ???
Let me take it as the smallest degree XA= 5973-5683=290
then AB =max. 0.786x290=228 targeting 5911
and from around this level we can see a sizeable dip (equaling 50%-78.6% of upmove from 5683).
Alternatively, I would be eyeing the two trendlines shown on the chart above and marked T1 & T2 along with RSI-14 in Hour chart going into overbought zone and start showing negative divergence.
Above moves should suffice for tomorrow's projections
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