Metal is completing a cycle from 3.168 low and once completed, expect a 3 wave pull back before the next leg higher is seen. Wave B pull back can test 50 – 61.8 fib zone (3.203 – 3.215) before another extension higher toward 3.32 – 3.38 region is seen to complete wave ( X ). We don’t like selling the metal in proposed wave B and view of extension higher is valid as far as 3.168 low remains in place.
We do Elliott Wave Analysis of 26 instruments in 4 time frames (Weekly, Daily, 4 Hour and 1 Hour) with 1 hour charts updated 4 times a day so clients are always in loop for the next move. Please feel free to come visit around the website .Click Here to Start your FREE 14 day Trial (Limited Time Offer)
Back