$OM The market is currently moving within a corrective zigzag pattern (ABC), and it seems we are in wave C, the final phase of this structure. Wave A has already started with a sharp downward movement, followed by wave B, which served as a countertrend rally. Now, wave C is advancing, forming the final phase of this corrective cycle.
Since this is a corrective zigzag 5-3-5, the third wave of wave C has already formed, which means that the market is approaching a critical demand area at 4.0283. This level represents a strong support area where a potential reversal may occur. If the price reacts positively from this area, it may indicate the end of the correction and the beginning of a new bullish phase, starting the first wave of the next upward trend.
May 3, 2025 at 6:35 PM
