The post Deere & Co. (DE) Elliott Wave technical analysis [Video] appeared on BitcoinEthereumNews.com.

DE Elliott Wave technical analysis Function: Trend. Mode: Impulsive. Structure: Motive. Position: Wave 2 of (5). Direction: Upside in 3. Details: We are analyzing the potential bottom of a prolonged wave (4), as DE has approached the $400 level. We expect further upward movement to confirm the overall bullish bias. DE Elliott Wave technical analysis – Daily chart On the daily chart, Deere & Co. is displaying an impulsive trend. DE is currently in Wave 2 of Intermediate wave (5). There is a potential for a bottom formation in Wave (4) around the significant $400 support level. This zone is critical for confirming the expected upward trend. DE Elliott Wave technical analysis Function: Trend Mode: Impulsive Structure: Motive Position: Wave {i} of 3 Direction: Upside in wave {iii} Details: In this shorter time frame, we are exploring the possibility that wave 2 is complete and that DE is moving higher. We can clearly identify a three-wave correction in wave 2, and the increasing volume during the upward move confirms the potential for further upside in wave {iii}. DE Elliott Wave technical analysis – One-hour chart In the 1-hour chart, Deere & Co. is progressing in Wave {i} of 3, indicating the beginning of an impulsive upward movement. The recent corrective Wave 2 seems to have concluded, as the chart shows a clear three-wave structure. The increase in trading volume during this upward move strengthens the possibility that DE has entered Wave {iii}, often the strongest and most dynamic phase of an impulsive wave. Welcome to the Elliott Wave Analysis for Deere & Co. (DE). This analysis offers an in-depth look at DE’s price action using Elliott Wave Theory, helping traders to make informed decisions based on current market structure. We will break down both the daily and 1-hour charts to provide a comprehensive outlook. Deere & Co. (DE) Elliott Wave technical analysis [Video] Source: https://www.fxstreet.com/news/deere-co-de-elliott-wave-technical-analysis-video-202409120941

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Filed under: News - @ September 12, 2024 10:19 am