OTSU - Hourly Analysis - 24-12-2023

Sarfaraz Ahmad
Dec 24, 2023

Primary Structure: Bullish Impulsive

Primary Trend: Bullish

Current Wave structure: Correction in black wave "2".

Expectations: The rise from the low is in five bullish waves as black wave "1". The recent drop may be assumed as part of the three waves setback for black wave "2". This pullback may approach the 61.8% Fibonacci retracement level. A strong rally is waiting for us to ride from the said level.

Recommendation: 1: Long positions may be considered from 112 with stops below 70. Targets will be communicated over time.

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