Chart, page-115

For those interested in charting, just thought I would put forward my current MNS chart. I tend to use Elliott Wave analysis and so have marked up my interpretation of the current wave count for reference based on a daily chart from the lows of April 2020.

I called the April 2021 49.5c high as the end of Wave [1] and that conclusion was reached due to the MACD divergence (MNS higher highs between the two peaks but MACD had lower highs matching). I find this is a very useful determinate of the end of a wave. If this count is correct, we are now into Wave [3] and have concluded Wave (1) of this Wave [3] with the 75.5c high. I believe we have now seen the conclusion of corrective Wave (2) which saw an almost perfect Fibonacci 68.7% correction of the move from 26c to 75.5c. If this count is correct, we are just in the beginnings of Wave (3) of [3].

My interpretation only - I use charting as an adjunct to fundamental analysis and so am just presenting this for interest and comment from fellow chartists.



GLTA & DYOR