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Intel Corp., Elliot Wave Analysis

1/27/2023 10:00 AM

The price is in a correction and a fall is possible.

On the daily chart, a downward correction of the higher level develops as the second wave (2), within which the wave C of (2) forms. Now, the third wave of the lower level iii of C has ended, and a local correction is forming as the fourth wave iv of (v), within which the wave (b) of iv has formed, and the development of the wave (c) of iv is eding. If the assumption is correct, the price of the asset will fall to the area of 22.00–17.00. In this scenario, critical stop loss level is 36.67.

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