PTL - Hourly Analysis - 29-09-2024

Primary Structure: Bullish Impulsive

Primary Trend: Bullish

Current Wave Structure:  Potential Triangle in Red Wave "(4)".

Expectations:  The rise from the lows can be counted in five waves in the red wave "(1)' followed by a small pullback in red wave "(2)". The rise from its low is aggressive and can be counted in five waves that successfully approached the desired extension levels.  The development from the high of the red wave "(3)" is prolonged and expected to unfold as a triangle. Gains are expected after completing the triangle in red wave "(4)".
 Alternatively, if the price drops significantly and overlaps with the high f the red wave "(1)" than the red wave "(A)" may be onsidered completed earlier.

Recommendation:  Longs must have a target of 55 positively.

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