Commodities, especially the stocks of diversified miners, have a tendency of having complex price patterns.
SSW is no exception and it was a challenge coming up with the best labelling of this chart.
The large structure I am looking at is an expanding flat labelled wave (A) to (C).
In an expanding flat, wave (B) makes a new high relative to the previous top.
Wave (C) has unfolded as an extended impulse.
It is too early to say a low is in at 3542 but if it is in, we could have a double bottom looking at where wave 5 of (C) terminated relative to wave 3 of (C).
Any longs opened should use 3542 as a stop-loss level.
SSW is no exception and it was a challenge coming up with the best labelling of this chart.
The large structure I am looking at is an expanding flat labelled wave (A) to (C).
In an expanding flat, wave (B) makes a new high relative to the previous top.
Wave (C) has unfolded as an extended impulse.
It is too early to say a low is in at 3542 but if it is in, we could have a double bottom looking at where wave 5 of (C) terminated relative to wave 3 of (C).
Any longs opened should use 3542 as a stop-loss level.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.