With the latest rebound in Meta from the 530 area, a running triangle now appears to be the most likely scenario at this stage. However, this remains an unfinished corrective structure, and the full A-B-C-D-E sequence still needs to complete before the market can fully stabilize and offer clearer long-side opportunities.
Wave D likely peaked near the 700 area, where price has started to turn down following the latest earnings release. This move has left an open gap around the 670 zone, which could later be revisited once the ongoing Wave E correction completes. As long as the triangle structure remains valid, further sideways price action is still expected before any sustained breakout or trend continuation higher.
Highlights:
– Completion of the A-B-C-D-E structure may set up the next bullish phase.
– Running triangle still in play, suggesting continued sideways consolidation.
– Wave E support is projected in the 530–580 zone.
– Open gap near 670 remains a potential downside target.
Become a premium member
Get daily Elliott Wave updates for US Single Stocks, SP500,DAX, GOLD, SILVER, CRUDE, FX, CRYPTO, etc. or apply for unlimited access to the Elliot Wave educational videos.