$ORCL - RC -
Added 2024-01-04 09:30:53 +0000 UTC$ORCL continues to pull back and we can see a rejection here at the blue line, which was also at the the 50 and 200 Day MA. As we have observed a number of times lately, when the 50 and 200 Day MA are at the same point, usually we see a strong move next, a breakout or breakdown and in this case, I expect a breakdown since it is below all three levels and has been trending down since mid 2023.
I think this break down will lead the price down to the 0.5 Fib - 0.618 Fib before going higher to complete Wave 3 at $168.
Comments
Thanks!
rishi rao
2024-01-04 09:38:52 +0000 UTC
