Just an Elliot Wave idea for UROY.
This would fit well with a view that inflation will be persistent, and reflected in commodity prices over a longer period of time.
This would fit well with a view that inflation will be persistent, and reflected in commodity prices over a longer period of time.
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Here's a bearish alt. count. I lean this way, perhaps b/c I have trouble seeing how this triangle pattern is not complete, with the start of the impulse in the downward direction.
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My count above - not the bearish one, but the bullish one (original post)- looks wrong. Up or down, the way I counted, at the very least, is incorrect. Please discount my work here. I'm still learning to apply elliott wave theory.