Based on the size and strength of recent price movement it seems that we have completed a wave three of some degree. Additionally, a bear divergence has formed on the RSI signaling the end of a move; the width of the EWO tells us it was most likely a three. Here it has been labeled using (3).
Price requirements for (4) have been met, but there is a good chance to revisit that area once more before continuing upward to complete (5). Invalidation at price territory of (1), ~35.75CNY.
A break and close above ~55.47CNY puts price past one of the final major horizontal resistances before ATH.
Price requirements for (4) have been met, but there is a good chance to revisit that area once more before continuing upward to complete (5). Invalidation at price territory of (1), ~35.75CNY.
A break and close above ~55.47CNY puts price past one of the final major horizontal resistances before ATH.
