$INTC TOP 20
Added 2023-06-26 04:19:50 +0000 UTCThis pull back is likely concerning the bulls here as it rejected heavily after completing a clear 3 Wave count, we can see that the bounce from $26 to $37 was almost identical in length from the bounce in March from the blue line at $24 to $34. This is common in an ABC count.
In order to save the potential impulse wave, the pull back needs to pull back in 3 waves and fins support at one of the white fib levels I have added, the 0.618 Fib is the default fib usually.
I think if the price action can hold above the yellow support/resistance line, between the 0.5 Fib and 0.618 Fib, this could salvage the impulse wave and it can move higher next.
A failure to hold this line and I expect a further decline to the top blue line at $24.60.
