USDCOP: a punto de confirmar nuevos mínimos

Un rompimiento decisivo del nivel de 1.819, implicaría la confirmación del banderín bajista (líneas roja y azul livianas). La confirmación del rompimiento del nivel mencionado (1.819), nos llevaría a una zona de congestión, cuyo nivel de soporte esta en 1.700.oo. Dado que evidentemente estamos en una tendencia bajista, yo mantendría las posiciones cortas siempre que el precio se mueva dentro del canal bajista.

I insist… S&P Bearish Head and Shoulders in the making

After the clearly defined 5 waves bullish move, price is unfolding an ABC correction pattern, now at possible wave B completion as seen in Chart 2. Is important to note, as seen in Chart 1,  that even though price rejected from 38.2 Fib Retracement level, it entered and broke 38.2 Fib Fan Channel, giving high possibilities of reaching 61.8 level. Finally, but not less important, is the possible Head and Shoulders pattern seen in Chart 3. Note the symmetry shown between the time spent by price to go from Left Shoulder date to Head and from Head to the possible Right Shoulder (71 days).

Chart 1. Elliott Wave counting.

Chart 2. Wave B of possible ABC correction.

Chart 3. Possible daily Bearish Head and Shoulders in the making.