Neblio (NEBL): If Correction Bottom is Finished, Price Needs to Breakout of Triangle Pattern

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·@haejin·
0.000 HBD
Neblio (NEBL): If Correction Bottom is Finished, Price Needs to Breakout of Triangle Pattern
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**SUMMARY**

Neblio (NEBL) is still within the confines of the contracting lines of the triangle. It's best labeled with abcde (red) and the C wave is either complete or is very close to. The prior five wave impulse had wave 5 a bit extended and thus far, retracement has been to the 0.78 level.
![](https://steemitimages.com/DQmR4QPw9BDcggBrxBRcu8qRDmWLAM6itkbwQ5ENAHYzdxh/image.png)

Closer look shows that the abcde have pretty much completed all the subwaves. Recall that the triangle is labeled with abcde and each is comosed of a three wave; hence, 3,3,3,3,3. This leaves only one more action remaining to ignite the trend reversal and that's a breakout. Price needs to breach the upper white triangle line and do so in an impulse motive. Let's see how the day's price action play out.
![](https://steemitimages.com/DQmeyaTppbmneBT8N5ouERxownX6nTf2xgy3iaFvoKm6LbS/image.png)


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