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REC

1 Oct 202001:16 PM

In my last update on REC I thought wave 2 was complete at the point now marked as A of 2. Wave 2 went down to 66% retracement before the recent bounce and now the daily momentum shown on the chart is in buy mode. the moving averages are at 105.3 as the first hurdle. A close above that would further confirm wave 3 up in force.

Wave 3 can be calculated using the Elliott wave calculator as follows. 134 and 158 depending o the actual size.

Wave 0 1 % 2 - 0.618
  84 118 0.41 97
         
Wave 2 % 3 - 1.0 3 - 1.618
  95 -0.19 134 158
         

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