$JSEGLN - Glencore: Triangle Invalidated; Re-look At The Big Pic
See link below for previous analysis.
After prolonged sideways movement, price broke below 9230 invalidating the triangle outlook.
This has prompted me to label the advance from 7920 to 12433 as wave (5).
A look at the bigger picture fits an impulse as the five wave advance from 2254 to 12433 for wave .
I am looking at the current pullback as wave and ideally should terminate above 7209.
I will sit on my hands and monitor price action within the descending channel.
After prolonged sideways movement, price broke below 9230 invalidating the triangle outlook.
This has prompted me to label the advance from 7920 to 12433 as wave (5).
A look at the bigger picture fits an impulse as the five wave advance from 2254 to 12433 for wave .
I am looking at the current pullback as wave and ideally should terminate above 7209.
I will sit on my hands and monitor price action within the descending channel.
