The post ($IYR)’s impressive rally and what’s coming next appeared on BitcoinEthereumNews.com.

Hello everyone! In today’s article, we will follow up on the past performance of the Real Estate ETF ($IYR) forecast. We will also review the latest weekly count. First, let’s take a look at how we analyzed it back in March 2023. $IYR Weekly Elliott Wave View – March 2023: In our last article, we said that “we don’t believe in a crash but a correction is clearly unfolding and soon buyers will appear at the Blue Box area for a reaction higher. Once the reaction higher unfolds, we will be able to tell if the low is in place and continue higher or more downside will follow.”  $IYR Weekly Elliott Wave View – July 22, 2024: The latest weekly update confirms that $IYR has ended the cycle lower after bouncing from the Blue Box area at $73.53 – 56.27. As a result, the ETF has moved higher, allowing long positions to become risk-free. We expect $IYR to rally in one more push to make a 5-wave pattern before another pullback occurs. Traders should look for re-entry opportunities at blue (2) in 3 or 7 swings due to the incomplete bullish sequence with a target of $101 – 114. Source: https://www.fxstreet.com/news/riding-the-wave-iyr-s-impressive-rally-and-whats-coming-next-202407232229

---

Filed under: News - @ July 24, 2024 2:20 am