The chart looks very nice even if it fails miserably in its execution. I think the one key I was trying to convey is the major near-term support at 993. A strong move back below will signal something other than this chart is playing out - likely a flat or double zigzag for Minor B wave and it will end lower than 978.
But I have no reason to believe that 993 would not hold (or even if it will retrace that low). Look at the move up from 978. There is no negative divergence on this hourly chart even in the last squiggle move up today. It looks technically pretty decent.
Posts
