DE Elliott Wave Analysis Trading LoungeDeere & Co., () Daily ChartDE Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Wave 2 of (5).DIRECTION: Bottom in wave 2.DETAILS: We are looking at a bottom in wave (4) in place at around 330$, with a correction that has lasted a couple of years. As we broke above 400$, we could see further upside to confirm the bullish bias.Deere&Co., (DE) 1H ChartDE Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Wave {c} of 2.DIRECTION: Downside in wave {c}.DETAILS: Looking for another leg lower in wave {c} of 2 as we seem to be having a three wave move in wave 2, which keeps finding support on top of MediumLevel 400$.This Elliott Wave analysis of Deere&Co., (DE) outlines both the daily and 1-hour chart structures, highlighting the current trends and possible future price movements.* DE Elliott Wave Technical Analysis – Daily Chart*The daily chart indicates that wave (4), a long-term correction spanning a couple of years, has likely completed around $330. After breaking above the critical resistance at $400, there is a growing bullish bias that suggests the beginning of wave (5). As the market confirms this breakout, we could anticipate further upside in the long-term impulsive structure. Continued moves above $400 will solidify the bullish trend and target higher levels in wave 3 of (5).* DE Elliott Wave Technical Analysis – 1H Chart*The 1-hour chart suggests that the correction within wave 2 is still unfolding, with a three-wave corrective structurelikely forming. Specifically, wave {c} of 2 is expected to bring another leg lower, testing support levels around MediumLevel 400. This area has acted as a solid support zone during the correction, and the next downside move in wave {c} will determine whether the correction is near completion.Technical Analyst: Alessio BarrettaMore By This Author:
Elliott Wave Technical Analysis: Deere & Co. – Thursday, Nov. 7
