The slow and exhausting struggle between buyers and sellers continues to put the market in a standstill.
The price action still aligns with the wave scenario, where wave 5 — likely forming a terminal diagonal — is in progress. The first downside target near the lower boundary should be reached soon, and it may extend even further.
Another upward leg is expected afterwards, as outlined in the wave count. For now, however, new entries are not recommended. It is better to wait for the market’s reaction at the lower boundary before considering long positions.
Investment idea: FLAT.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
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Bob Stan
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