🔑 Key Levels After the Breakout:
✅ New Support: 3719 (flipped from resistance into a key support).
✅ Next Resistances:
3892
4064 (extended target – potential wave 5 top).
✅ Secondary Supports: 3659 – 3612
🔹 Elliott Wave Perspective:
Wave (3) has completed with the breakout above 3719.
We may now see the beginning of a short correction (wave 4) pulling back toward 3719 – 3659.
After that, wave 5 could extend upward targeting 3892 → 4064.
📈 Expected Scenarios:
Main (Bullish) Scenario:
Sustaining above 3719 keeps momentum strong, pushing price gradually toward 3892, then 4064.
Alternative (Corrective) Scenario:
A pullback to retest 3719 – 3659 as a base before resuming the bullish trend.
✅ New Support: 3719 (flipped from resistance into a key support).
✅ Next Resistances:
3892
4064 (extended target – potential wave 5 top).
✅ Secondary Supports: 3659 – 3612
🔹 Elliott Wave Perspective:
Wave (3) has completed with the breakout above 3719.
We may now see the beginning of a short correction (wave 4) pulling back toward 3719 – 3659.
After that, wave 5 could extend upward targeting 3892 → 4064.
📈 Expected Scenarios:
Main (Bullish) Scenario:
Sustaining above 3719 keeps momentum strong, pushing price gradually toward 3892, then 4064.
Alternative (Corrective) Scenario:
A pullback to retest 3719 – 3659 as a base before resuming the bullish trend.
Disclaimer
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.
Disclaimer
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.