Foreign [Music] Welcome to another update video about Polygon Matic so with Matic not too much Happening today obviously Thanksgiving In the US therefore the markets are Rather quiet the stock market is closed Anyway and not too much movement okay so My view is continues to be that from This wave one high here at one to land Five we came down in a wave we moved up In a b wave and I still expect a further Sell-off to the downside that would Change should we really impulsively Break above the 95 96 Cent level at the Moment we are just doing what we're Supposed to be doing we've come into This resistance area this resistance Area is based on the length of the a Wave here and obviously it's resistances Yeah and the the retracements so we're Looking here at the retracement just do That a bit more accurately Um if we say the third wave which is Sort of part of this cell of scenario Here yeah So just to explain that wave a down done With B up overshooting with B done wave C down currently underway with a wave One done a wave two away three currently Unfolding and the wave three could be an ABC that's how it's going to be looking Like to me Um so the B wave would normally not
Necessarily retrace more than a 50 Retracement Um of this a wave Um so yeah looking at that and then the C wave down should follow so I would Primarily expect the continuation to the Downside as long as the 96 Cent level Holds you know if we break impulsively Above 96 then we are not only breaking About above let's say a yeah a Fibonacci Resistance but also above a structural Resistance we had here some resistance Before right and here as well Um but yeah as long as we have a look we Also by the way below this 50-day moving Average that you can see here in yellow That's currently at 89 cents so yeah This is um possible it's a very very Complex and ugly chart but it all boils Down to one one thing if The price Breaks above the 96 Cent level then we Can look at something more bullish Because the Wave 2 could without a Problem be in already I don't find it Too likely but it could be and then we Would move up in a Wave 3 already but The way the structure is looking like I Am primarily looking for a new low here Not below the Drone low but basically Below here the previous low and that Would take place in this kind of the Diagonal pattern here to the downside at The moment yeah
So Idea Target sort of in the 60 Cent range Maybe even a bit lower but as long as We're holding the 47 Cent level things Are still okay and things are not Bearish okay so interestingly in line With that we are about to put in a Bearish cross over here on the macd on The forward chart we already have a Bearish crossover on the RSI on the four Hour chart the daily might not be ready Yet so on The Daily charts okay on the Daily chart we actually currently sort Of hovering sideways are in the Red Zone We might be doing a turnaround here but It's spit too early to confirm that The daily is obviously lagging quite a Bit But yeah the the eight hour for example Is also turning down and eventually this Will move over to the daily chart and You will see that on the daily chart as Well but ideally what will happen is we Come down in a c wave here to finish That off and then reverse and move Higher Two new highs okay above the B wave high Which means above one dollar and 30. so Yeah that's just my quick update about Polygon Matic not much has happened here But I still want to give you an update Hope you like the update if you did Please hit the like button leave a Comment and subscribe and if you really
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