By Orbex
The 1H timeframe of BABA suggests a primary degree zigzag ⒶⒷⒸ.
With waves Ⓐ-Ⓑ completed, we can expect to see the development of a bullish wave Ⓒ. This wave can take the form of a simple impulse or an ending diagonal.
Its upside could end above 237.10, which wave (B) registered.
Free Reports:
However, wave Ⓑ could continue lower in the form of a triple zigzag (W)-(X)-(Y)-(X)-(Z).
If the assumption is correct, then a slight upward move in wave (X) might occur. Following that, there should be a decline in wave (Z,) near 118.48.
At that level, correction wave Ⓑ will be at 76.4% of wave Ⓐ.
By Orbex
By JustMarkets At the end of Tuesday, the Dow Jones Index (US30) added 0.28%. The…
By RoboForex Analytical Department EUR/USD remains stable at around 1.0483 as markets digest the implications…
By Brian Mittendorf, The Ohio State University Donor-advised funds, or DAFs, are financial accounts funded…
By RoboForex Analytical Department The NZD/USD pair has experienced a significant decline, touching a low…
By Adriana Craciun, Boston University Two-thirds of the world’s food comes today from just nine…
By JustMarkets At Monday’s close, the Dow Jones Index (US30) increased by 0.99%. The S&P…
This website uses cookies.