Support at $76 Resistance at
$82 Current
Elliot wave count : Completing of Wave iv of wave 3
drilling it down further prices if this scenario plays out is at last stages of a wave 4 formation.
Meaning to say wave 4 has not terminated so if this wave c of wave iv is true then prices could be $74.
Presently prices could be finding the end of wave iv before top of wave V which will then complete Wave 3 of one larger degree.
Prices at the moment could be at the wave c formation of the Wave iii - Wave iv elliot rule of Wave a = Wave c = Approx $7. $7 down from Wave b $81-$7 = $74 So if this scenario plays out accordingly Wave IV will be $74 A good entry for Wave V which will complete the major degree Wave 3
According to elliot rule of 5-3-5 wave count for corrective wave
Currently prices may be tracing the completion of wave ii of C
Before coming down to $74
And thus complete Wave iv of 3
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