ACCORDING TO ELLIOT WAVE, WE COULD BE IN A SHORT TERM CORRECTION UP-TRENDING B-C.
LOOKS LIKE PRICE IS BREAKING INTO THE 1/2 GANN CORRIDOR WHERE IT MIGHT FIND SOME
SUPPORT WITH .5 FIB/GANN SITTING AT THE SAME LEVEL. FROM THERE PRICE
PRICE COULD BE APPROACHING THE 100 EMA WHERE WE MIGHT FIND STRONG RESISTANCE
WITH .736 FIB SITTING AT THE SAME LEVEL. FROM THERE A POSSIBLE BREAKDOWN
TO .236 FIB @2C WOULD PUT US UP INTO THE 2/1 GANN CORRIDOR WITH A POSSIBLE
ELASTIC BOOST FROM THE EMA'S. PUSHING PRICE UP TO ELLOIT WAVE D WHERE CONSOLATION
AND STRONG RESISTANCE COULD BE FELT AROUND 1 FIB. FROM THERE A POSSIBLE BREAKDOWN
AND CONTINUATION OF DOWNTREND, OR A CONTINUATION OF THE CURRENT REVERSAL IN PROGRESS.
LOOKS LIKE PRICE IS BREAKING INTO THE 1/2 GANN CORRIDOR WHERE IT MIGHT FIND SOME
SUPPORT WITH .5 FIB/GANN SITTING AT THE SAME LEVEL. FROM THERE PRICE
PRICE COULD BE APPROACHING THE 100 EMA WHERE WE MIGHT FIND STRONG RESISTANCE
WITH .736 FIB SITTING AT THE SAME LEVEL. FROM THERE A POSSIBLE BREAKDOWN
TO .236 FIB @2C WOULD PUT US UP INTO THE 2/1 GANN CORRIDOR WITH A POSSIBLE
ELASTIC BOOST FROM THE EMA'S. PUSHING PRICE UP TO ELLOIT WAVE D WHERE CONSOLATION
AND STRONG RESISTANCE COULD BE FELT AROUND 1 FIB. FROM THERE A POSSIBLE BREAKDOWN
AND CONTINUATION OF DOWNTREND, OR A CONTINUATION OF THE CURRENT REVERSAL IN PROGRESS.
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