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Technical Analysis (Wyckoff & Elliott Wave) On BWPT & AALI


BWPT

You will likely find these contracting trendline to be very important. Elliott Wave practitioners know the significance of this chart by looking at the possible wedge formation.



AALI


The expected test of supply came in bar 2 after we saw supply entered in bar 1. Bar 3 suggests that the test was successful. I expect to see an increased in volume when the market exceeds the top of bar 1 to confirm that the buying from May 25 is genuine.

Unsurprisingly, analysis in BWPT also suggests an important play is coming shortly.

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