7 Aug 2020 ● 02:27 PM
I have used an arithmetic scale here simply because it was easier to draw a channel on it. This is a choice to make sometimes. Here prices have moved from the top end to the bottom end in wave 4 and today managed to close back above the 40dema. Now wave 5 up may go back to the top end of the channel. So far we do not have confirmation from other momentum indicators and that can be awaited. The lower line is at 156 and upper line at 193.