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SPX500 Cycle Wave V To End Impulse III

Started by PocketOption, Mar 20, 2023, 04:56 am

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PocketOption

SPX500 Cycle Wave V To End Impulse III

Elliott Wave

Chart of SPX


The SPX500 index continues the development of a major impulse consisting of sub-waves I-II-III-IV-V.


On the current chart, we can notice a cycle correction IV in the form of a primary triple zigzag, after which the price moved higher.


Impulse V is now under development . In the near future, prices could increase to a maximum of 4815.42.


Chart of SPX


Alternatively, the construction of correction IV could continue. Perhaps its actionary wave Ⓩ tends to equality with the wave Ⓨ.


In the near future, the cost is expected to fall to 3334.63. At that level, sub-waves Ⓩ and Ⓨ will be equal.


Then, after reaching the specified level, the price can turn around and start an upward movement.


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