SUI structure, after a failed all time high, now appears to be a macro triangle in wave (4), also characterised by the long drawn out range. Wave D is underway to the triangle upper boundary with wave E expected to complete around the weekly pivot point, $3.17.Wave (5) has a minimum target of the R5 weekly pivot at $15.8, at the 2 Fibonacci extension.
Falling below $1.7, wave A, invalidates the analysis and suggests we have much lower to go in a bear market.
Weekly RSI is bearish with lower to go but hidden bullish divergence has formed, a good raly will confirm.
SUI i holding up better than most with shallower retracements overall.
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