SNG: Wave ((4)) Correction Within a Bullish StructureSNG: Wave ((4)) Correction Within a Bullish Structure
After completing a strong impulsive advance into ((3)), SNG appears to be developing a controlled Elliott wave ((4)) pullback toward a major confluence support zone near 13.45.
The correction is currently aligned with:
channel axis support
MA30 dynamic support
prior breakout area
RSI continues to cool from overbought territory and may retest the 40 area, supporting the scenario of a momentum reset rather than a trend reversal.
Volume beh
"How much higher can ASC go?"A friend asked me yesterday: "How much higher can ASC go?"
ASC is one of those charts that Elliott Wave practitioners love: clean structure, clear wave relationships, and relatively easy labeling.
My current interpretation is that price is still developing wave (5) of ((1)) within Primary Wave III.
Using one of Elliott's common guidelines, where Wave 5 can sometimes equal Wave 1 in length, a potential target emerges around 23 RON. Of course, 5 = 1 is not a rule, only a guideline.
To strength
Medlife SA , Volume vs MA20 — Key ReadVolume vs MA20 — Key Read
Volume has dropped below the 20-period average after the peak, with weak participation on rebounds.
→ No real demand
→ Buyers are not stepping in
→ Rallies lack conviction
Conclusion:
Current structure suggests distribution, not accumulation, supporting a corrective phase (wave 4) rather than trend continuation.
TEL (BVB) – Key signal at resistanceTEL (BVB) – Key signal at resistance
At the area marked by the black arrow (~89–90), we see:
High volume spike
Very small candle (doji / indecision)
This combination is not neutral in context.
After a completed impulsive move ((5)) and a sequence of lower highs, price tests former support turned resistance — but fails to advance despite strong participation.
👉 Interpretation:
Absorption on the rebound = likely distribution
Large players are using liquidity to exit, not accumulate.
What matt
TLV – technical signals of trend exhaustion and likely correctioTLV – technical signals of trend exhaustion and likely correction
The current structure suggests a mature trend entering a terminal phase:
• RSI shows persistent bearish divergence → clear momentum loss
• Price is forming an ending diagonal in wave 5 → typical end-of-trend pattern
• Repeated reactions at key moving averages (MA30, MA50, MA100) → dynamic support still active, but weakening
• Significant distance from MA200 → room for mean reversion
Interpretation:
The long-term trend remains b
SMTL correction, but to what level?Strong impulse up to the ~60–66 zone
After that: wide range + high volatility
Strong impulse up to the ~60–66 zone
After that: wide range + high volatility
Repeated reactions at:
55–60 (resistance)
49–50 (pivot)
41–35 (intermediate support)
Internal structure: heavy overlapping (not a clean impulse)
👉 Raw technical conclusion:
we are in a correction, not a new impulse
Logical targets (aligned with your levels):
41 → first serious test
35 → critical support holds
30–28 → probable final zone
I wouldn't think to go long on SNPI wouldn't think to go long on SNP at this time. If already in, watch and see what happens. But I, personally, would not enter long at this price.
If perhaps price was to pullback to the grey zone, depending on how it falls, how fast, what happens in that area, etc. you may rethink and possibly look for longs.
But it's quite possible that if/when price begins the downtrend, it may push through this zone. Price will definitely react, but don't think just because price is in this zone, it's now
AROBS Long/Short Depending on Short-Term MoveIf price breaks above prior high and stays above = look to long.
If price breaks above then snaps back down = look to short.
If short, look to grey lines for support (slowing down price or potentially reversing price).
Need to watch price closely at these levels to see if price wants to simply pullback, then continue lower. Or continue the higher timeframe uptrend higher.
Would be a decent short. But needs to be watched as there are plenty of levels where price may encounter buyers.
SNG down to 9.50 then 8.65Looks like a good short-term short, worth trying out and seeing how long one can hold.
First target 9.50. See how price reacts here. If price breaks 9.50, possible short term pullback, or depending on how price develops, cut short, and look to long.
Depending on how bearish this can stay (assuming price stays below 9.50) a target of 8.65 looks reasonable in the short-term.
Worth a short, closely watched.











