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JPMorgan Chase & Co., Elliot Wave Analysis

2/22/2023 10:02 AM

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

On the daily chart, a downward correction ended as the fourth wave of the higher level 4, and the fifth wave 5 forms, within which the first wave of the lower level (1) of 5 forms. Now, the wave 1 of (1) has formed, and the development of the local correction 2 of (1) has started. If the assumption is correct, the price of the asset will fall to the area of 127.45–122.00. In this scenario, critical stop loss level is 144.02.

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