Prices have broken below the rising trendline and all the SMAs, which a bearish reversal signal, but they still remain above the level of the wave ②. That keeps the presented Elliott wave scenario valid. Of course, as long as prices remain so close to the blue horizontal line, the chances that the presented scenario is incorrect and that prices will continue falling remain high, but if price rebound a move above the broken trendline again, we will be looking for an acceleration of the rally.
submitted by /u/dchara01
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May 26, 2017 at 02:28PM
from /u/dchara01
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