Reversal about to start in Google!
At this juncture we can see a clear completed 5 waves structure for Google on the daily timeframe confirmed by a bullish divergence with the RSI.
It would be nice to see the prices fall between the $89-$91 area where we can find a cluster of fibonacci's ratios.
If prices manage to bounce back from this target or even slighter before, prices should at minimum travel to $113 level in a corrective manner. Even though, this might look exciting for bulls, it will only be a rally before resuming the downtrend that will push prices lower than the temporary low that Google will make soon.
Overall, I am expecting the bottom of Google to happen any time soon and a rally all the way up to $113 for the weeks to come.
It would be nice to see the prices fall between the $89-$91 area where we can find a cluster of fibonacci's ratios.
If prices manage to bounce back from this target or even slighter before, prices should at minimum travel to $113 level in a corrective manner. Even though, this might look exciting for bulls, it will only be a rally before resuming the downtrend that will push prices lower than the temporary low that Google will make soon.
Overall, I am expecting the bottom of Google to happen any time soon and a rally all the way up to $113 for the weeks to come.
כתב ויתור
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