Price is still holding above the standard Wave 2 pull back level on the 0.618 Fib at $22 and has put in a higher low so far but we are still waiting for a higher high next to confirm the trend to the upside for Wave 3 next.
So a break and holding above $23 will be sufficient and the next test will be the 50 Day MA next at $24.
Above this level and we want to see the blue resistance/support line converted to support next at $25.15 and Wave 3 can be confirmed up to $27.50.
Federico Salerno
2025-05-16 20:10:40 +0000 UTC