BZ1! (CL1!)
SHORT: Target is 40$ (BZ1!)
However:
The current wave (IV) is the next-to-last wave in general downtrend/correction since July 2008 (on monthly timeframe). Upon completion of last (I)-(V) out of last {C} the trend will change and the targets will be (80$ and then 140$)
Here it means that either (IV) or the last wave (V) will be complicated.
In other words:
If (IV) is complicated (e.g. double zig-zag) than (V) is simple
If (IV) is simple (zig-zag) than (V) is complicated (e.g. ending diagonal)
As to the current technical situation I do not see any sentiment to drop the price below EMA50 (day) and complicate wave (IV). To the contrary the price tends to 50$ (EMA200 day) and only after the price will look down to 20-s$.
However:
The current wave (IV) is the next-to-last wave in general downtrend/correction since July 2008 (on monthly timeframe). Upon completion of last (I)-(V) out of last {C} the trend will change and the targets will be (80$ and then 140$)
Here it means that either (IV) or the last wave (V) will be complicated.
In other words:
If (IV) is complicated (e.g. double zig-zag) than (V) is simple
If (IV) is simple (zig-zag) than (V) is complicated (e.g. ending diagonal)
As to the current technical situation I do not see any sentiment to drop the price below EMA50 (day) and complicate wave (IV). To the contrary the price tends to 50$ (EMA200 day) and only after the price will look down to 20-s$.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.