AVN - H1/H4 Analysis - 24-02-2023

From the low of January 17, 2023, we have been able to identify the rise as impulsive. Leading diagonals are characterized by gains that are overlapped and indicate struggling bulls. According to the rules, there must be a three-wave pullback after an impulsive wave. We are trading in the midst of the above-said pullback at the moment. After concluding Blue Wave B, we anticipate having some more weaknesses.
The support zone is located between the 61.8 and 78.6% Ret level, which coincides with the previous wave 2 low.
For the bottom to be confirmed, we might require a daily close above the dotted line.