Part 3/5:
Two potential pathways for price movements are discussed:
Preferred Pathway: In this scenario, wave A forms one more high before transitioning to the corrective wave B, followed by an upward movement.
Alternative Pathway: The second pathway implies that wave B is already unfolding, leading to a testing of lower support regions prior to any upward movement.
Weak micro support levels between $8.10 and $9.60 have been introduced, characterized as “weak” due to previous rallies only showing a three-wave formation rather than a stronger five-wave structure.