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TECH Sell 08.09.2021 07:19

JP Morgan Chase Co.: wave analysis

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

On the daily chart, the fifth wave of the higher level (5) forms, within which the wave 3 of (5) ended. Now, a downward correction is developing as the fourth wave 4 of (5), within which the wave a of 4 has formed, the wave b of 4 has ended, and the development of the wave c of 4 is starting. If the assumption is correct, the price will fall to the levels of 138.46–129.29. In this scenario, critical stop loss level is 167.24.