Our 1-5 impulse waves appear to be done and we are now facing resistance at 200 EMA (pink). Also this top is 2.618 Fib extension of wave (i). 5 impulse waves are usually followed by an ABC correction.
Note how 4th wave got support from 100 EMA (purple)
Note how 4th wave got support from 100 EMA (purple)
Comment:
I sub divided the 5th wave into 5 sub-waves, although the price went beyond 200 EMA, it looks like the stretch is over
Comment:
That was indeed the top, here is a possible ABC correction with Fub levels acting as support and resistance
Comment:
Our chart yesterday was about 3rd wave ending and not the 5th wave. The 5th wave appears to be done now
Comment:
ABC appears to be done looking at the sub-waves. Also 0.618 Fib level is a good place to turn around
