easy · Elliott Wave Theory motive
During a potential termination of a trend, price makes a new high at 1,250, exceeding the previous peak of 1,200. However, the RSI (14-period) at the 1,250 level is 71, compared to 78 at the 1,200 level.
What does this suggest?
- Negative divergence confirming a Wave 5 completion.
- Bullish momentum confirming a third-wave extension.
- A standard Wave 4 pullback that requires deeper price retracement.
- The start of a leading diagonal.
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