Elliott waves analysis – Resell the cable below 1.33051


Resell the cable below 1.33051

Wave Analysis

Perfectly as we previously forecasted, the impulsive wave c stretched significantly to the lower side and is slowly getting below the daily support level 1.33516. If you didn’t get an opportunity to pick a short position around 1.36590, then you may consider picking a short position below 1.33051, that means waiting for a clear break, then a slight correction to pick a long term short position with an ultimate target at 1.26974. This view may only be rendered futile in case the price again gets above 1.33516, this being the case, we’ll expect a rally upwards.

Trade Recommendations:

Resell the cable below 1.33051 towards 1.26974.

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