TLH, TLT update July 26

TLH: Price hit the (blue) 1.618x extension of Primary A, from B; which is often the typical extension for a (primary) C wave. In addition, the (green) minor c-wave hit the perfect 2.000x extension of minor a, from b; which in turn overlaps with the aforementioned 1.618x extension. Hence, appears likely a significant top is in place. Support is obviously at the lower trendline (picture perfect hits with price btw) and resistance is at the upper trendline, though price will likely fail to reach it.

tlh

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TLT: Same story as TLH, but with a few different Fib-extension targets. Price (almost) hit the yellow (major) 1.00x extension as well as the (red) intermediate 0.764x extensions, which overlap. Though the latter is somewhat uncommon, it does fit with the ABC-type of advance and not a 1,2,3,4,5 type of advance. Hence, also here we expect a significant top is in place.

tlt