It's a daily chart of NASDAQ, and it has made an Elliott wave pattern. The 4th wave has been completed. And the fifth wave is remaining.
The fifth is in the making process. As per the rules of Elliott wave theory, the fifth wave will hit the 0.618 level, which I have found by using Fibonacci of 1+3. Hence, it will march for the following level 12700 - 12800.
Nasdaq Composite may collapse (up to support trendline) for the following levels before turning up.
Downside levels: 11860 - 11600
The fifth is in the making process. As per the rules of Elliott wave theory, the fifth wave will hit the 0.618 level, which I have found by using Fibonacci of 1+3. Hence, it will march for the following level 12700 - 12800.
Nasdaq Composite may collapse (up to support trendline) for the following levels before turning up.
Downside levels: 11860 - 11600