Might pullback go on to test 1384.xx?

Traditional view
Bullish in all aspects except that the pullback may continue and the rock support 1384.xx might be tested.

Elliott bearish view
Still opens the possibility to a further and steeper sink to form the wave C of the correction ABC which began from the April 3.

Elliot bullish view
The 5 days drop from the April 3 was just a deep pullback and it was not a part of an ABC correction. The rally began from the 4/24 might be the first motive of the five wave pattern up.

Aggressive bulls/bears may watch 1384.xx to go long (if unable to break down) or  to go short (broken down).
Cautious bulls may want 1408.xx broken out to confirm long.
Cautious bears may want 1357.xx broken down to go short.

No comments: