I favor price growth probability a little more. If it moves up, I think it will be at least 3 waves. One giving a cheap opportunity to buy before the liquidity area is reached.
On the other hand, is anyone left to sell? Not much selling activity below month's low. We can get lower, but then a consolidation area to refuel is likely to form.
It doesn't go without saying that both areas I highlighted as a potential target are not that strong. But the monthly low seems it could be.
On the other hand, is anyone left to sell? Not much selling activity below month's low. We can get lower, but then a consolidation area to refuel is likely to form.
It doesn't go without saying that both areas I highlighted as a potential target are not that strong. But the monthly low seems it could be.