BABA was pulled down further last week. According to our primary scenario, it should now be in the final stages of the blue wave (a). As soon as the low is reached, we expect a (corrective) rise in the form of blue wave (b) before a further sell-off completes the magenta-colored wave (ii). Only with the correction low underfoot should the same-colored wave (iii) then drive the price above the resistance at $117.79.
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📊 Daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.