Disliked{quote} I'm not sure why everyone here is overwhelmingly holding a bearish bias, we just triple rejected a key weekly zone that price has been ranging off of for months. This could be going way up so I'd advise you wait and see what happens. In my books, if it can get back to 111 this could be a reversal, if we get a strong rejection off of 111 and perhaps a key fundamental event, we could break lower. But given the triple rejection and the recent bull run on the 4 hour, it looks to me like the big boys were profit taking and the recent test was...Ignored
Following the trendline method (m30), $Y is already long (SL 108.58) while ...
... EW predicts a 4th wave and a 5th one ... bullish.
P.S.
I hope the 4th does not breakdown the intermediate line (see post 68280), otherwise it would trigger a short order ...
... panta rei ... (Heraclitus of Ephesus, 535-475 BC)