Since 67k was an obvious fakeout, an expanded corrective flat pattern must play out.
Y point will be much lower than W due to the massive pull from X.
23500 is very viable, however, we might see a pump to 42-45k first to start the zigzag downwards.
If it breaks out of 45k, we will get a 1st confirmation that zigzag (scenario B) is invalid. If it breaks out on top of the ascending triangle (Scenario A), that will be the 2nd confirmation to long.
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Looking at the RSI, we still have some space to meet 28 range and finish the 5 move triangle and finally break out of it to get a hidden bullish divergence at the inverse H&S level.
I hope this TA finds you well on your trades. Have a nice day and stay safe.
Y point will be much lower than W due to the massive pull from X.
23500 is very viable, however, we might see a pump to 42-45k first to start the zigzag downwards.
If it breaks out of 45k, we will get a 1st confirmation that zigzag (scenario B) is invalid. If it breaks out on top of the ascending triangle (Scenario A), that will be the 2nd confirmation to long.
----
Looking at the RSI, we still have some space to meet 28 range and finish the 5 move triangle and finally break out of it to get a hidden bullish divergence at the inverse H&S level.
I hope this TA finds you well on your trades. Have a nice day and stay safe.
