Price remains bearish. Whereas the WEEKLY chart forms the geometric basis for a decline to the 48.47 level, here is a fractal of the same geometry, offering an interim target:
Note that the Geo's Off-Set Rule #2 is used as the principal means to define this high-probability target.
Best,
David Alcindor
Note
31 JAN 2016 - Tech-Note:
Looking at this finer grain level, the following M15 chart illustrates a Geo/Wolfe Wave potential, combined with a structural level defined along the expected 1-4 Line target ... This may represent the expected overhead resistance:
Best,
David Alcindor
Note
01 FEB 2016 - Chart Update / Tech-Note:
As forecast, price rallied, validated 1-4 Line. Expect consolidation or corresponding geometric formation along this line, as price is likely to test above (pink) range:
Best,
David Alcindor
Note
06 FEB 2016 - Chart Update / Tech-Note:
Geometri adjustment in points 3 and 4 - Geo's Rule #2 should apply here.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.