$JSEMRP - Mr Price: Is A Bottom In Now?
The last analysis on Mr Price was on the 17th of March 2023 and the bears were still in control, link below.
Looking at price action, there has been a significant bounce from 13104 and most importantly, this bounce has broken above 15199 which rules out a simple five wave decline from 18972.
The larger Elliott Wave structure from 24225 is a double-zigzag (W)(Y) with a large triangle (X) wave.
If a bottom is in, price must hold above 13104 which is the invalidation level and should be used as a stop-loss level.
Buying the dips is the strategy above 13104.
Looking at price action, there has been a significant bounce from 13104 and most importantly, this bounce has broken above 15199 which rules out a simple five wave decline from 18972.
The larger Elliott Wave structure from 24225 is a double-zigzag (W)(Y) with a large triangle (X) wave.
If a bottom is in, price must hold above 13104 which is the invalidation level and should be used as a stop-loss level.
Buying the dips is the strategy above 13104.
