Hopefully the dust is settling for $TEM and we have the 5 impulse waves in now and there is a pull back from this point, the PM suggests so too
So I have added in the green pull back fib levels to show where support can come.
The 0.38 Fib aligns perfectly with the larger 0.618 Fib for the ABC pull back, so this is an area of interest at $44, which is also our blue line and also the line I said to watch out for holding above when I first shared this chart this week.
A 3 wave pull back is what we need to see and when it completes, I believe this is Wave 2 complete and $TEM can move higher next for Wave 3....ultimately moving to the top blue line at $79.
I am certainly interested here at $44 to start a position.
Giorgio
2025-01-23 12:10:19 +0000 UTC