Bottom Line: Higher against 60.40 in a developing third wave at larger degree.
Key Levels: Below 60.40, 74.01, 86.59, 116.55 Above 135.08, 162.42
Outlook: Against 74.01, Monero should continue higher within a larger degree third wave advance.
Analysis: Yesterday's comments still apply: "Monero is little changed, although the 109.69 low has stayed intact. We next want to see impulsive trading above 128.52 to both confirm the end of the wave ((4)) correction and to set up a break of the wave ((3)) high at 139.73."
Key Levels: Below 60.40, 74.01, 86.59, 116.55 Above 135.08, 162.42
Outlook: Against 74.01, Monero should continue higher within a larger degree third wave advance.
Analysis: Yesterday's comments still apply: "Monero is little changed, although the 109.69 low has stayed intact. We next want to see impulsive trading above 128.52 to both confirm the end of the wave ((4)) correction and to set up a break of the wave ((3)) high at 139.73."
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Bình luận:
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Bottom Line: Higher towards a break of 96.78.
Analysis:
No change to the outlook. The wave model calls for Monero to complete a series of third wave patterns at progressively higher wave degrees. These will be punctuated by fourth wave corrections, one of which should have completed this past week with a low at 110.45. Against this level, we'll see if XMR can challenge the recent 139.73 high as the next upside objective.