As long as rising support continues to hold I'm expecting price to move within a relatively smaller range in coming months. Wave 1 should make a nominal new high, though perhaps just testing the all-time high. Wave 2 would revisit support again before price moves up to 2300+. Below support, I still remain bullish in the bigger picture even into the high 1600s with alt (4).
This is no time to add to long positions. In fact, I've substantially cut long exposure as of Monday. Will reload in support and proceed cautiously over the next months. I plan to be 100% long upon completion of the 1-2 pattern, especially if the presumed wave 1 top is taken out after wave 2 support holds.
This is no time to add to long positions. In fact, I've substantially cut long exposure as of Monday. Will reload in support and proceed cautiously over the next months. I plan to be 100% long upon completion of the 1-2 pattern, especially if the presumed wave 1 top is taken out after wave 2 support holds.
